Germany delays approval of 2024 budget - Reuters

"The delay to the talks, which were scheduled in parliament for Thursday, underscored the challenge facing the government after the constitutional court blocked the transfer of unused pandemic funds towards green investments and industry support," says the article.

This has raised warnings that the growth of Germany's already fragile economy may slow down next year, and projects and subsidies aimed at supporting the competitiveness of its industry are now at risk.

Speaking at a press conference, German Chancellor Olaf Scholz stated that the proposed budget would now be discussed in parliament on an urgent basis, but at the same time, everyone will have time for a thorough review.

Assistance to Ukraine at risk

The delay has increased uncertainty about spending in all sectors of the German economy and indicated that the budget for 2024 may not be approved by the end of the year.

The government has already frozen most new commitments for expenditures and blocked spending from the Economic Stabilization Fund of €200 billion for this year.

Almost every unapproved expenditure category is in question. Among the uncertainties is assistance to Ukraine.

Germany wants to double assistance to Ukraine

German Defense Minister Boris Pistorius has stated that the country intends to double military assistance to Ukraine by 2024. Instead of the previously budgeted €4 billion, Germany plans to spend €8 billion for these purposes.

Later, journalists familiarized themselves with the draft federal budget of Germany for 2024, which includes doubling military assistance to Ukraine to €8 billion.

Reuters then reported that in Germany, the ruling coalition is trying to fill a huge hole in the budget, which has put on hold defense assistance to Ukraine for next year totaling €8 billion