US EditionGermany Pushes Ahead with Budget Preparations While Seeking Savings, Document Shows
- Germany's new finance minister, Lars Klingbeil, has started detailed work on the budgets for the years 2025 and 2026 amid persistent economic difficulties and heightened security threats.
- The government faces stagnant economic growth and heightened security threats, with the last coalition failing to pass the 2025 budget before collapsing in November.
- The draft budget plans prioritize investments in modernization, structural reforms, easing burdens, and budget consolidation, with cabinet approval and parliamentary discussions set throughout 2025 and 2026.
- Steffen Meyer, a senior official at the finance ministry, identified Russia as the most significant threat, while Klingbeil committed to urging all ministries to implement cost-saving measures, emphasizing that remaining passive is not an option.
- The government aims to create fiscal space by establishing a 500 billion euro infrastructure fund and seeking savings, signaling intentions to restore growth and consolidate the budget.
14 Articles
14 Articles
Germany's Sovereign Debt: Why America Is Not a Model
With the G-7 countries, Germany is in agreement with the easing of the debt brake. However, the countries themselves suffer from the consequences of high public debt. That should be what Federal Finance Minister Lars Klingbeil should think.
Are Companies Starting a Savings Fund with Apprentices Soon?
"It's going to be a few hard years." With these words, Finance Minister Markus Marterbauer presented last week the budget for the years 2025 and 2026, which is associated with great savings. Does this also have consequences for vocational training? Monika Sandberger of the Initiative zukunft.lehre.österreich. fears retrograde steps. 22,177 apprentices made Upper Austria the number one training country in the previous year. With 6362 young people…
Germany pushes ahead with budget preparations while seeking savings, document shows
BERLIN - Germany's new finance minister has begun intensive preparations for the 2025 and 2026 budgets, with savings sought despite the government giving itself fiscal room by creating a new infrastructure fund, a document seen by Reuters on Monday showed. Read more at straitstimes.com.
Federal Budget: Klingbeil Calls on Ministerial Colleagues to Strictly Austerity
The Federal Finance Minister rejects many of the Cabinet colleagues' requests for expenditure. Those who want to tackle new projects have to start a red pencil elsewhere in their own department.
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