June deadline for Germany's 2024 budget decision no longer feasible -finmin

Lindner has already said that even more savings must be made and new spending should only come from existing funds. According to government sources, there is currently a gap of around 20 billion euros ($22.02 billion) in the plans for 2024.

German Finance Minister Christian Lindner said on Thursday that a planned cabinet decision on the 2024 federal budget on June 21 is no longer feasible as the coalition government remains in deadlock.

The three-party government - comprising Lindner's Free Democrats, the Social Democrats and the Greens - had been due to vote on the budget on June 21 after Lindner postponed the presentation of the final draft indefinitely in March. On Thursday, Lindner said on his way to Japan for a Group of Seven (G7) finance ministers' meeting that June 21 "no longer applies."

Now the bill must be drawn up by September at the latest, though it is unclear whether this can be achieved. The budget needs to be consolidated significantly after massive increases in spending during the coronavirus pandemic and due to higher energy costs as a result of the Ukraine war.

At the same time, several ministries have registered projects that require financing. Lindner has already said that even more savings must be made and new spending should only come from existing funds.

According to government sources, there is currently a gap of around 20 billion euros ($22.02 billion) in the plans for 2024. ($1 = 0.9084 euros)