The German government won’t be able to meet another deadline to agree on next year’s budget, according to German Finance Minister Christian Lindner.
There will be no deal in the dispute over the 2024 budget by the June 21 date set by his ministry, Lindner told reporters on his flight to Japan for the meeting of Group of Seven finance chiefs.
The so-called cornerstones, which serve as a basis for planning the next year’s budget and reflect the financial resources per ministry, have already been canceled because the ruling coalition can’t agree on the distribution of the funds.
Germany’s debt brake, which restricts the federal government deficit to 0.35% of gross domestic product except in times of emergency, will kick in again next year.
The 2024 budget currently has a gap of €20 billion, which must still be closed in budget negotiations.
