Germany facing big budget hole as economy slows: finance ministry document

February 4, 2019

BERLIN (Reuters) – Germany is facing a budget shortfall of around 25 billion euros ($28.62 billion) by 2023 as an economic slowdown means tax revenues will come in below previous estimates, a Finance Ministry document obtained by Reuters showed.

The government last month cut its growth forecast for this year to 1.0 percent from 1.8 percent previously.

The ministry document pointed to further risks for the budget, including costs related to exiting coal power.

($1 = 0.8734 euros)

(Reporting by Markus Wacket; Writing by Paul Carrel; Editing by Michelle Martin)