Bundesfinanzminister Lars Klingbeil (SPD) says he has achieved a first success in closing the gaps in the federal budget. He told the news website “Redaktionsnetzwerk Deutschland” that the ministries are meeting the requirement to cut 1 % of expenses in their programmes.

“We’re reaching the target” he added, but warned that “the five billion euros that come together won’t help us close the huge holes in the budget”. “That was just a warm‑up exercise. Now it’s time for the big reforms”.

The federal financial plan shows a deficit of roughly €130 billion between 2027 and 2029.