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Davos 2023: Germany may not need full 200 billion euro fund for energy crisis - finance minister

GERMANY-EU:German finance minister doubtful of EU debt reform proposals
GERMANY-EU:German finance minister doubtful of EU debt reform proposals Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
Published on Updated
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BERLIN - Germany probably will not need the full 200 billion euros ($217.26 billion) earmarked for the government's response to protect households and companies from the impact of soaring energy prices, Finance Minister Christian Lindner said on Tuesday.

Germany's spending on its gas and electricity price caps could be lower than expected due to falling energy prices on futures markets, the finance ministry said Tuesday.

Inflation this year is expected to be lower than the German government's current forecast of 7%, Lindner added at a panel at the World Economic Forum in Davos. Updated forecasts will be published at the end of January.

He expects a higher inflation level in 2024 and 2025 than in the past due to Russia's war in Ukraine, despite the foreseen easing in prices from their current levels.

Lindner added that countries need to work in the causes of inflation, which he identifies as energy prices in the case of Germany and the lack of competitiveness at the European level.

($1 = 0.9206 euro)

(This story has been refiled to correct the year in the headline)

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