• Wed. Dec 6th, 2023

German Court Ruling Sends Economic Tremors, According to Minister


Nov 21, 2023

The recent ruling by Germany’s top court has caused a significant chain reaction in the country’s economy. According to Economy Minister Robert Habeck, the transfer of funds back from Germany’s Climate Transformation fund following the ruling leveraged far more capital than previously anticipated. Habeck emphasized the importance of these funds, stating that they are not an add-on that can be carelessly discarded. He expressed concern that the loss to the economy if investments were not made now would be even greater.

Habeck made these remarks at a news conference in Jena, where he also discussed how the government was urgently preparing and discussing how to set up its budget in light of the court ruling and the missing funds. Transport Minister Volker Wissing also commented on the ruling, emphasizing the need to re-evaluate and check budget prioritization in light of its consequences on government funds. Wissing stated that this reassessment must take place immediately, and he could not anticipate the exact result at this time.

Reporting by Riham Alkousaa

Editing by Miranda Murray

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