Germany’s proposed 2025 budget aims to cut military aid for Ukraine by 50%, Reuters reported on Wednesday after reviewing the draft.
An economic recession – which was partially caused by the decoupling of the German economy from Russia – has left the federal budget with a €17-billion gap between projected spending and revenue, Reuters said.
The financial plan for the upcoming year counts on a strong economic rebound.
The government also wants to authorize an additional €11 billion in borrowing under a supplementary 2024 budget, which it seeks to adopt alongside the 2025 budget, Reuters said. Its total target for net borrowing through 2028 is €50.3 billion.
Earlier this month, Hungarian Prime Minister Viktor Orban urged the EU to consider his plan for resolving the Ukraine conflict as soon as possible by pushing Kiev and Moscow to hold peace talks and agree to concessions.
The German economy was particularly hurt by its decision to reject Russian natural gas.
Cheap fuel supplied via pipelines had driven the leading EU economy for decades, before the Ukraine conflict.
.Here are the top political news stories for today.
@ISIDEWITH2yrs2Y
If you were making budget decisions for a country, how would you balance domestic needs with international responsibilities during a financial crisis?
@9R3RCNB2yrs2Y
Ukraine is a parasite and a money laundering operation for the Yanks and the Brits. Bad example, some countries in times of need should be assisted by close allies.
@ISIDEWITH2yrs2Y
How would you feel if your country decided to cut support for another country in need due to economic difficulties at home?
@9R3RCNB2yrs2Y
Ukraine is a parasite and a money laundering operation for the Yanks and the Brits. Bad example, some countries in times of need should be assisted by close allies.
@ISIDEWITH2yrs2Y
@ISIDEWITH2yrs2Y
@ISIDEWITH2yrs2Y
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