Germany faces budget deficit of €5B

Germany is facing a budget deficit of 5 billion euros, German Finance Minister Christian Lindner said in an interview with ZDF TV, Report informs.

Lindner mentioned that there is still ample time to find a viable solution. He also revealed plans to hold discussions with German Chancellor Olaf Scholz and Vice Chancellor and Economy Minister Robert Habeck by mid-month.

Following these discussions, the draft budget will be submitted to the Bundestag, with the aim of adoption by the end of November.

Notably, the approval process for Germany’s 2025 draft budget has taken longer than expected, marked by public disputes among politicians and threats from some MPs to withdraw their support for the government.

The 2025 budget is projected to be 481 billion euros, with 4 billion euros allocated for military support to Ukraine.