According to the report, the region’s government needs more loans to tackle the current crisis, but had been unable to do so until recently due to a regulation that prohibits it to spend more than its budget has.
Therefore, the authorities are trying to bypass that regulation by declaring a financial emergency.
In order to justify more loans, the state authorities would refer to "extraordinary [financial] emergency," caused by the aftermath of the conflict in Ukraine.
The North Rhine-Westphalia government explains its plans for more loans by the region’s weak economic development.
"We are in a recession that would continue until 2023," the broadcaster quoted Marcus Optendrenk, the finance minister of North Rhine-Westphalia, as saying.
In his words, the region is particularly vulnerable to growing energy prices since it has lots of power-consuming industrial enterprises on its territory.
The Federal Statistical Office reported earlier that inflation in Germany accelerated stood at 10% in November against the backdrop of the energy crisis in Europe. The energy crisis in Europe worsened in early July, when there were first interruptions in gas supplies from Russia.
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