BERLIN (Reuters] – Germany’s legalization of cannabis could result in annual tax revenues for Germany and cost savings totalling approximately 4.7 billion euro ($5.34 trillion) as well as 27,000 additional jobs. The survey was conducted Tuesday, while politicians debate rules regarding the budding industry.

Chancellor-in-waiting Olaf Scholz and his centre-left Social Democrats (SPD) are in talks with the environmentalist, pro-spending Greens and the libertarian, business-friendly Free Democrats (FDP) to build a three-way coalition.

The details of the coalition agreement are being worked out by the SPD, Greens, and FDP. This includes rules that would allow and regulate the sale of and use recreational cannabis in Europe’s biggest economy.

According to the German Hemp Association, the survey conducted by DICE (Institute for Competition Economics) in Duesseldorf found that legalizing cannabis would result in additional tax revenue of around 3.4 billion Euros per year.

The same thing could happen in the judicial and police systems: it would save 1.3 billion euro per year, as well as creating thousands of jobs within the cannabis economy.

According to Prohibition Partners’ European Cannabis Report, legalizing cannabis in Germany could boost a growing European market. It is estimated that the European Cannabis Market will be worth over 3 billion Euros annually by 2025. This figure would increase from 400 million euros last year.

Germany legalized cannabis use for medicinal purposes in 2017.

($1 = 0.8804 euros)