"Germany does not qualify for an automatic increase in its contribution to the budget of the European Union after Brexit," - said Finance Minister deputy Jens Spahn in an interview with Handelsblatt.

"If the contribution from the UK will disappear, the EU budget will be reduced - said Jens Spahn -. However, there is no automatic mechanism in which Germany and other net contributors should increase the contribution to the EU budget."

Germany, Europe's largest economy, is already making the largest net contribution to the EU budget each year to more than 15 billion euros.