Germany's parliamentary budget committee approved a 2027 draft that raises both
spending and net borrowing above the government's original plan as Berlin steps
up infrastructure and expanding military investment. The committee's draft sets
total spending at about €561bn ($621bn) and net new borrowing at roughly €123bn
— €4.25bn more borrowing and €5.5bn higher spending than the government's
initial proposal. Negotiations between MERZ's CDU bloc and the SPD concluded
overnight; the draft will go to the Bundestag for a vote later this month and
then require final sign-off by the Bundesrat.
