The so-called “debt brakes” in the nation were also suspended earlier by a decision in the parliament.
With Russian gas supplies cut off, Germany is seeing a considerable rise in energy prices. Prior to the start of the Russian-Ukrainian crisis, Germany depended on Russian gas supplies for 55 percent of its needs.
The inflation rate in Germany last September to 10 percent, recording the highest level since the 1950s, driven by high energy and food prices.
German enterprises and households should rationalize their gas usage more, according to German government officials who made the statement in September. This is especially true given that reserve gas stockpiles are insufficient to meet demand for more than two months throughout the winter.
Economy Minister Robert Habik stated last month that “the energy crisis we are seeing in Europe may evolve into an economic and social crisis.”
German lawmakers pass a 200 billion euro budget to address the energy problem.
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