German Finance Minister Christian Lindner is planning a package of austerity measures of up to 20 billion euros.
This was reported by the German edition of Spiegel on Friday.
With the help of these measures, Lindner wants to close the gaps in funding in the budget for 2024 and at the same time create some space for inevitable additional expenses, the publication writes, citing sources in the ministry.
The ministry has so far refused to comment on the publication's report.
In fact, persistently high inflation should ensure tax revenue growth despite a weak economy. However, additional revenues are not high enough to close all the holes in the budget.
Therefore, according to the Federal Ministry of Finance, austerity measures are inevitable. Priority should be given to savings in ministries with the largest social costs. These are the ministries of labor and family affairs.
The Ministry of Finance believes that it is not worth saving on the Ministry of Defense, where, according to the general opinion, too many funds have been saved in the past.
