German finance ministry: Cabinet agrees on a draft of 2023 supplementary budget

<p><br></p><ul><li>The German Finance Ministry reports that the cabinet agrees on the draft of the 2023 supplementary budget.</li><li>The Ministry plans to take out a net credit of 27.4 billion EUR and an additional 43.2 billion EUR net credit for the Economic Stabilisation Fund.</li><li>The Ministry is still examining the further effects of a court decision on special funds.</li><li>According to the Ministry draft, the 2023 supplementary budget aligns with the government's sustainability strategy.</li><li>The Ministry draft notes that the effects of the Ukraine war will continue to significantly impact the government's revenue and spending in 2023.</li><li>A draft from the Ministry highlights the persistent risk that falling consumer spending could trigger a downward economic spiral.</li><li>The Finance Ministry presentation indicates that there are sufficient funds available to cover planned climate function expenditure in 2024.</li></ul><p><br></p>

This article was written by Greg Michalowski at www.forexlive.com.