• Germany facing big budget hole: Reuters citing government document

Market news

4 February 2019

Germany facing big budget hole: Reuters citing government document

Reuters reported the document of Germany’s Finance Ministry it obtained showed that the country is facing a budget shortfall of around 25 billion euros ($28.62 billion) by 2023 as an economic slowdown means tax revenues will come in below previous forecasts.

The German government last month lowered its growth estimate for this year to 1.0 percent from 1.8 percent previously.

The governmental document pointed to further risks for the budget, including costs related to exiting coal power. 


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