Sign inSubscribe
Economy

‘Germany facing big budget hole as economy slows’

By Agencies
  • German govt last month cut its growth forecast for this year to 1pc from 1.8pc previously

BERLIN: Germany is facing a budget shortfall of around 25 billion euros ($28.62 billion) by 2023 as an economic slowdown means tax revenues will come in below previous estimates, a Finance Ministry document revealed.

The government last month cut its growth forecast for this year to 1pc from 1.8pc previously.

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

Previous article
Readymade garments export reaches $1.2bn in six months
Next article
ECC orders provision of gas, electricity to special economic zones
Agencies
Agencies

1 COMMENT

  1. Pakistan can expect less bread crumbs thrown in her begging bowl by Germany this year.

    Rong Zilai. // Sichuan, CHINA

Comments are closed.

RELATED ARTICLES

Must Read

Profit by Pakistan Today
Publishing Editor: Babar Nizami -- Editor Multimedia: Umar Aziz Khan -- Senior Editor: Abdullah Niazi -- Editorial Consultant: Ahtasam Ahmad -- Business Reporters: Taimoor Hassan | Shahab Omer l Zain Naeem | Nisma Riaz | Mariam Umar | Hamza Aurangzeb | Shahnawaz Ali | Ghulam Abbass | Ahmad Ahmadani | Aziz Buneri -- Sub-Editor: Saddam Hussain -- Video Producer: Talha Farooqi -- Director Marketing : Mudassir Alam | Regional Heads of Marketing: Agha Anwer (Khi) | Kamal Rizvi (Lhe) | Malik Israr (Isb ) -- Manager Subscriptions: Irfan Farooq -- Pakistan’s #1 business magazine - your go-to source for business, economic and financial news.
Contact us: [email protected]
Copyright © 2024. Pakistan Today. All Rights Reserved.