EU clears Germany’s multi-year fiscal plan, Politico reports

Germany has struck a deal with the European Commission on a multi-year fiscal plan that will let the country increase investment now while committing to tighten spending in the future, Politico’s Chris Lunday and Hans von der Burchard report, citing a senior German official. The agreement forms part of Germany’s Fiscal-Structural Plan under the EU’s Stability and Growth Pact, and establishes a path for government net spending through the year 2029, the authors note. “In constructive talks with the European Commission,” the official told Politico, “the German government successfully agreed on a multi-year path for the maximum permissible growth in general government net primary expenditure for the years 2025 to 2029.”