Germany expects 2024 budget deficit to be at least €14B

Germany's federal budget deficit will be between €14 billion and €18 billion next year, Finance Minister Christian Lindner said in an interview with the Rheinische Post newspaper, Report informs.

"According to the latest estimates, next year we will have a deficit of between €14 billion and €18 billion on revenues of €424 billion," he said. At the same time, the minister stressed that if there is a need for additional spending, for example, on defense or education, then funding in other areas will have to be cut even more.

"One should also take into account the increase in tariffs for utilities," he explained. "Unfortunately, those who hope that the tax estimate in May will solve all budget problems are mistaken."