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GG 115. 2 Revenues and expenditures shall in principle be balanced without revenue from credits . This principle shall be satisfied when revenue obtained by the borrowing of funds does not exceed 0. 35 percent in relation to the nominal gross domestic product . In addition , when economic developments deviate from normal conditions , effects on the budget in periods of upswing and downswing must be taken into account symmetrically . Deviations of actual borrowing from the credit limits specified under the first to third sentences are to be recorded on a control account ; debits exceeding the threshold of 1. 5 percent in relation to the nominal gross domestic product are to be reduced in accordance with the economic cycle . The regulation of details , especially the adjustment of revenue and expenditures with regard to financial transactions and the procedure for the calculation of the yearly limit on net borrowing , taking into account the economic cycle on the basis of a procedure for adjusting the cy cle together with the control and balancing of deviations of actual borrowing from the credit limit , requires a federal law . In cases of natural catastrophes or unusual emergency situations beyond governmental control and substantially harmful to the states financial capacity , these credit limits may be exceeded on the basis of a decision by a majority of the Bundestags Members . The decision has to be combined with an amortisation plan . Repayment of the credits borrowed under the sixth sentence must be accomplished within an appropriate period of time . § Xa .
Level:
Leistung:
fehlt
Status:
Englisch
GG 115. 2
Revenues
and
expenditures
shall
in
principle
be
balanced
without
revenue
from
credits
.
This
principle
shall
be
satisfied
when
revenue
obtained
by
the
borrowing
of
funds
does
not
exceed
0. 35
percent
in
relation
to
the
nominal
gross
domestic
product
.
In
addition
,
when
economic
developments
deviate
from
normal
conditions
,
effects
on
the
budget
in
periods
of
upswing
and
downswing
must
be
taken
into
account
symmetrically
.
Deviations
of
actual
borrowing
from
the
credit
limits
specified
under
the
first
to
third
sentences
are
to
be
recorded
on
a
control
account
;
debits
exceeding
the
threshold
of
1. 5
percent
in
relation
to
the
nominal
gross
domestic
product
are
to
be
reduced
in
accordance
with
the
economic
cycle
.
The
regulation
of
details
,
especially
the
adjustment
of
revenue
and
expenditures
with
regard
to
financial
transactions
and
the
procedure
for
the
calculation
of
the
yearly
limit
on
net
borrowing
,
taking
into
account
the
economic
cycle
on
the
basis
of
a
procedure
for
adjusting
the
cy
cle
together
with
the
control
and
balancing
of
deviations
of
actual
borrowing
from
the
credit
limit
,
requires
a
federal
law
.
In
cases
of
natural
catastrophes
or
unusual
emergency
situations
beyond
governmental
control
and
substantially
harmful
to
the
states
financial
capacity
,
these
credit
limits
may
be
exceeded
on
the
basis
of
a
decision
by
a
majority
of
the
Bundestags
Members
.
The
decision
has
to
be
combined
with
an
amortisation
plan
.
Repayment
of
the
credits
borrowed
under
the
sixth
sentence
must
be
accomplished
within
an
appropriate
period
of
time
. §
Xa
.
