German President Frank-Walter Steinmeier has signed a law that envisages billions in investments in defense and infrastructure. This will also unlock EUR 3 billion for military aid to Ukraine.
This was reported by the NTV broadcaster.
It is noted that Steinmeier signed a law that practically abolishes the "debt brake" rule. It must now be published in the Federal Law Gazette.
Defense, intelligence and cybersecurity spending exceeding 1% of GDP will be exempt from the debt rule. Importantly, this will also unlock the allocation of EUR 3 billion for military aid to Ukraine.
According to the approved law, EUR 500 billion can be attracted for infrastructure investments over the next 12 years. The federal states are to use EUR 100 billion for their infrastructure, EUR 300 billion will be placed at the disposal of the German government, and the remaining EUR 100 billion for climate protection.
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