BREAKING NEWS

BREAKING NEWS

Germany facing big budget hole as economy slows - finance minister document

Germany facing big budget hole as economy slows - finance minister document
@ Copyright :
KAI PFAFFENBACH(Reuters)
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BERLIN (Reuters) - Germany is facing a budget shortfall of around 25 billion euros (22 billion pounds) by 2023 as an economic slowdown means tax revenues will come in below previous estimates, a Finance Ministry document obtained by Reuters showed.

The government last month cut its growth forecast for this year to 1.0 percent from 1.8 percent previously.

The ministry document pointed to further risks for the budget, including costs related to exiting coal power.

(Reporting by Markus Wacket; Writing by Paul Carrel; Editing by Michelle Martin)

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