Daily Management Review

Germany to spend over €7B annually to support the economy


The administration has roughly 50 humanitarian initiatives planned in all.

The German government has approved a set of economic support measures. As a result, the total amount of funding now equals €7.035 billion annually up to and including 2028, according to a draft law quoted by Handelsblatt.

The German cabinet is anticipated to give its final consent at its Wednesday meeting held behind closed doors at the German government home in Meseberg near Berlin. A scheduled cabinet decision was abandoned two weeks ago as a result of Lisa Paus, the minister for family, senior citizens, women, and youth, voicing her disagreement.

The final version now adds "the temporary introduction of a degressive depreciation for residential buildings" in comparison to the earlier draft. Residential buildings whose construction starts after September 30, 2023 and before October 1, 2029, will be subject to it.

The administration has roughly 50 alleviation initiatives planned in total. The relief offered by the Growth Opportunities Act is expected to total €2.65 billion in the upcoming year. The highest relief package, totaling €10.2 billion, will be implemented in 2026, after which the amount of relief will again gradually decline until 2028.

source: handelsblatt.com