A 172 billion euro deficit for the budget of the period 2027-2029, by 28 billion higher than the German government’s calculation so far, is recorded in the federal budget planning by 2029, which is expected to be approved by the Council of Ministers. The government’s previous calculations reported a deficit of 144 billion euros, but according to new data brought to light German media, citing government sources, it will eventually reach 172.1 billion. According to the first channel of German public television, the draft emphasizes that there is a “very high need for action”. The fiscal gap was partly expanded due to the “growth amplifier” with tax reliefs for businesses, but also by increasing the beneficiaries of the “mother’s pension” from 1.1.2027, a year earlier than originally planned. Bild newspaper, citing federal finance ministry sources, says the government should save 34 billion euros in 2027, 63 billion in 2028 and 74 billion in […]
Source: News Beast
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