Germany’s parliament on Friday approved a support package of 200 billion euros, designed to protect companies and households from the impact of explosive growth in energy prices, Reuters, DPA and Agerpres reported.

According to the decision of the parliament, the Economic Stabilization Fund can attract additional loans in the amount of up to 200 billion euros.

The decision was made possible after the Bundestag on the same day approved the suspension of the so-called “debt brake” included in the German Basic Law.

According to the government’s plans, the measure will be in effect until 2024.

Starting in March, private households can benefit from a price cap of 80% of their normal consumption. For large companies, the restriction may come into effect as early as January.

The opposition criticized the fact that it is not yet clear what the 200 billion euros will actually be used for.

“They want to sell us something blindly and we don’t accept that,” said Gesine Lötsch of Die Linke (left).

The government’s “debt brake” provides that the federal budget must be managed without heavy borrowing, except in adverse economic conditions.

Since the start of the COVID-19 pandemic, the Bundestag has repeatedly suspended this provision to allow massive borrowing.

Initially, the German state lent money to help companies and households affected by the pandemic. More recently, Germany borrowed to compensate for rising energy prices and high inflation.