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German ministries’ spending wishes exceed 2022 finance plan by 70 billion eur -sources -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Frankfurt’s skyline and its bank district was photographed January 7, 2020 in Frankfurt. REUTERS/Kai Pfaffenbach

BERLIN, (Reuters) – Germany’s new government has spending goals that exceed this year’s budget by 70 billion euros ($79 Billion). These are due to the coronavirus expense and a shift toward a greener economy. Two sources spoke to Reuters on Wednesday.

The sources said that the German ministers’ spending plans would exceed by 2026 the mid-term financing plans set by Angela Merkel, by about 400 billion euros.

According to a source, this is impossible.

These spending plans put pressure on coalition governments to avoid taking on excess of 100 billion euro in new debt.

Christian Lindner, Minister of Finance, called for stricter spending.

Rheinische Post reported that Lindner said, Wednesday: “Especially when interest rates rise, politicians must set priorities.”

A detailed budget 2022 by the Finance Ministry and a short-term financial plan are scheduled for presentation to the Cabinet on March 9.

($1 = 0.8836 euros)

 

 

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