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11/27/2023, 1:05 PM (Source: TeleTrader)
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German govt says it could present 2024 budget by year-end

German government spokesperson Steffen Hebestreit stated on Monday that the government will try to present the 2024 budget by the end of the year.

The statement comes after the approval of the budget has been postponed due to a delay in agreeing on the 2023 budget. Hebestreit also added he expects the Cabinet to decide on the current year's supplementary budget, thus allowing its passage to parliament to be discussed on Wednesday, as German Finance Minister Christian Lindner declared last week.

The current budgetary turmoil began over a week ago when the Federal Constitutional Court declared unconstitutional an initiative to redirect €60 billion of unspent pandemic-era debt to a climate fund, forcing the government to temporarily consider lifting a self-imposed cap on borrowing limits.

Baha Breaking News (BBN) / JG