Germany is headed for a budget crisis due to rising costs and increasing debt, the German publication Olam reported on Sunday.
According to this draft budget, government spending will reach a record of 560.9 billion euros. The scope of the new debt for 2027 will be approximately 210 billion euros.
The German national debt will exceed 3 trillion euros by the beginning of 2028, and the interest payments on the debt may reach 100 billion euros already next year.
German Chancellor Friedrich Merz reported on Germany's dire economic situation and attributed the accelerated growth rate of public debt to concerns about the climate and EU-NATO unity: We created a federal fund to achieve climate neutrality and develop infrastructure that way.
Do you remember the times when the German economic model was given to us as an example and we were encouraged to imitate the Germans?
Apologies for the German economic model - where are they now?