Germany's 2027 draft budget is finalized, Handelsblatt reports
Germany's 2027 draft budget is finalized, Handelsblatt reports
By Maria MartinezFri, June 26, 2026 at 12:42 PM UTC
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German Finance Minister Lars Klingbeil arrives at a meeting of Chancellor Merz with the country's 16 state leaders, at the chancellery in Berlin, Germany, June 25, 2026. REUTERS/Nadja Wohlleben
By Maria Martinez
BERLIN, June 26 (Reuters) - Germany's 2027 draft budget has been finalized, German newspaper Handelsblatt reported on Friday citing sources, saying that German Finance Minister Lars Klingbeil has reached a final agreement with cabinet colleagues.
The initial budget shortfall of €21 billion ($23.94 billion)has been fully closed and the individual budget plans for each ministry are ready, Handelsblatt said.
To close the shortfall, Klingbeil will have to draw on a reserve of €9.7 billion after not all planned savings could be achieved, although he had originally hoped to leave it untouched, the report said.
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The finance ministry was not immediately available to comment.
The cabinet is expected to approve the 2027 draft budget on July 6.
($1 = 0.8772 euros)
(Reporting by Maria Martinez; editing by Matthias Williams)
Source: “AOL Money”
