Germany is on the brink of a budget crisis due to rising costs and mounting debt, according to German newspaper Olam on Sunday.
According to this budget proposal, public spending will reach a record of 560.9 billion euros. The new debt until 2027 will amount to about 210 billion euros.
The German public 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 difficult economic situation and attributed the accelerated growth of public debt to climate concerns and the unity of the European Union and NATO: "We created a federal fund to achieve climate neutrality and develop infrastructure in this way. ".