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Germany’s leader vows fixes for a budget crisis as the economy struggles. But he offers few details

German Chancellor Olaf Scholz pledges quick solutions to a budget crisis following a court ruling that struck down planned spending on clean energy and economic modernization. Details on how these goals will be achieved remain uncertain.
Germany's government must address shortfalls of around 30-40 billion euros next year, in addition to 20-30 billion euros for 2025. Some spending may be shifted to public-private partnerships or the country's development bank, but overall spending may be reduced by 0.5% of economic output in the next two budget years.
The ruling limiting Germany's deficit to 0.35% of GDP may also impact other national and local spending, potentially affecting up to 130 billion euros in expected spending by 2027.

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PBS NewsHour

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Germany's economic challenges complicate budget crisis resolution, despite Chancellor's reassurance

Cuts that need to be made next year could further slow down what is already the world's worst-performing major economy.

1 year ago·Washington, United States

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n-tv.de

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Trend barometer on the financial crisis: Most Germans want to cut their budgets

Give up and save money — that would be Plan B for the budget crisis if the Germans could work it out themselves. Only very few want to raise taxes in order to get the planned projects off the ground. But who do they blame for the financial disaster?

1 year ago

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der Standard AT

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Chancellor Scholz is setting Germans in the mood for tough times due to budget chaos

In the Bundestag, the German chancellor admits financial difficulties, but also promises that the state will not leave anyone alone. A report from Berlin

1 year ago·Vienna, Austria

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Bradford Today

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Germany's leader vows fixes for a budget crisis as the economy struggles. But he offers few details

FRANKFURT, Germany (AP) — German Chancellor Olaf Scholz vowed Tuesday that his government will work “as fast as possible” to lay out how to solve a budget crisis, but he offered few details on how he would achieve his goals of promoting clean energy

1 year ago·Bradford West Gwillimbury, Canada

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