In the region in the west of Germany, a financial emergency was declared against the background of the energy crisis. The authorities of the state of North Rhine-Westphalia would like to take out new loans in the amount of €5 billion. However, due to the debt brake rule, which prohibits spending more money from the budget than it receives, this is not possible under normal conditions.
How writes WDR, in order to be able to take on more debt, the land authorities decided to refer to the “state of emergency” – the consequences of the conflict in Ukraine.
According to the TV and radio company with reference to the Minister of Finance of North Rhine – Westphalia, Markus Optendrenck, the region is in a recession, and it will stretch for at least the next year. The main reason for the rise in energy prices is the large number of energy-intensive industries on the Rhine and Ruhr rivers.