German finance minister: 2024 budget just a first step in fiscal normalization

Germany's budget for 2024 is just a first step in the needed normalization of fiscal policy, said German Finance Minister Christian Lindner on Tuesday. "We need to recognize our new fiscal realities," he said while presenting the draft for the 2024 budget and financial plans through 2027 to parliament.

Europe's biggest economic power is aiming to curb spending that surged in response to COVID-19 and the Ukraine war.