FILE PHOTO: The skyline with its banking district is photographed in Frankfurt, Germany, January 7, 2020. REUTERS/Kai Pfaffenbach
February 2, 2022
BERLIN (Reuters) – Germany’s new government’s spending wishes exceed this year’s finance plan by 70 billion euros ($79 billion) due to coronavirus expenses and a shift towards a greener economy, two sources told Reuters on Wednesday.
By 2026, the German ministries’ expenditure wishes exceed medium-term finance plans pinned down by the old government under Angela Merkel by almost 400 billion euros, the sources added.
This was not doable, one source close to the finance ministry said.
The ministries’ spending plans also put pressure on the coalition government’s target to not take on more than 100 billion euros of new debt this year.
Finance Minister Christian Lindner called for more spending discipline.
“Especially in times of rising interest rates, politicians have to set priorities,” Lindner was quoted as saying by Rheinische Post newspaper on Wednesday.
The finance ministry is scheduled to present a detailed 2022 budget and a medium-term finance plan to the cabinet on March 9.
($1 = 0.8836 euros)
(Reporting by Christian Kraemer; Writing by Riham Alkousaa; Editing by Bernadette Baum)
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