Germany faces 100 billion euro funds hole by way of 2023 – Spiegel

FILE PHOTO: A development website is pictured in Berlin, Germany Might 31, 2018. REUTERS/Axel Schmidt

BERLIN (Reuters) – The German authorities faces a spot of round 100 billion euros (£90.1 billion) for its funds plans by way of 2023 because the financial system cools, Der Spiegel reported on Friday, citing a paper by consultants within the parliamentary group of Chancellor Angela Merkel’s conservatives.

The federal government posted a funds surplus of some 11 billion euros in 2018 as strong financial progress boosted tax revenues.

However anticipated elevated outgoings on growth assist, EU contributions and defence spending posed a funds threat within the interval by way of to 2023 as they weren’t but financed, Der Spiegel added.

Writing by Paul Carrel, modifying by Riham Alkousaa

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