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Germany faces 100 billion euro budget gap through 2023 - Spiegel

Germany faces 100 billion euro budget gap through 2023 - Spiegel
FILE PHOTO: A construction site is pictured in Berlin, Germany May 31, 2018. REUTERS/Axel Schmidt -
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BERLIN (Reuters) - The German government faces a gap of around 100 billion euros (£90.1 billion) for its budget plans through 2023 as the economy cools, Der Spiegel reported on Friday, citing a paper by experts in the parliamentary group of Chancellor Angela Merkel's conservatives.

The government posted a budget surplus of some 11 billion euros in 2018 as robust economic growth boosted tax revenues.

But expected increased outgoings on development aid, EU contributions and defence spending posed a budget risk in the period through to 2023 as they were not yet financed, Der Spiegel added.

(Writing by Paul Carrel, editing by Riham Alkousaa)

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