US EditionGermany Set to Double Defense Spending to €162 Billion by 2029
33 Articles
33 Articles
Federal budget ahead of collapse: 171 billion are missing and Finance Minister Lars Klingbeil calls for austerity. The federal government has to tighten its belt. The coalition is about to break.
From government circles it became known that the need for action for the years 2027 to 2029 is a total of 172.1 billion euros - that is once again almost 28 billion euros more than estimated in the recently adopted budget benchmarks.
The budget for the current year is not yet through parliament, since already the view on the budget 2026. Figures from the Federal Ministry of Finance show: Black and red is heading towards a gigantic financing gap.
The Federal Government's financial planning for 2027 to 2029 lacks some 172 billion euros. Up to now, a gap of 144 billion euros had been assumed. One reason for the hole is the mother's pension.
In the future, the federal government will lack even more money than expected. For the years 2027 to 2029, the already expected hole in the budget will expand by almost 30 billion euros. The reason: the compromises of the black and red coalition.
The second draft budget of Finance Minister Lars Klingbeil is due to be adopted by the Cabinet on Wednesday. The Federal Government is facing difficult tasks, especially from 2027 onwards.
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