Tue, 07 Jul 2026 Kyiv 10:15Berlin 09:15London 08:15 UKR / DE / EN

Klingbeil presents 2027 budget draft with record debt

Finance Lars Klingbeil (SPD) has presented the draft for the 7 federal budget, which includes new borrowing of over 200 billion euros, primarily for infrastructure and defense.

Klingbeil presents 2027 budget draft with record debt
Photo: cdn.prod.www.spiegel.de

Finance Lars Klingbeil (SPD) has presented the draft for the 7 federal budget, which includes new borrowing of over 200 billion euros, primarily for infrastructure and defense.

The federal cabinet is expected to approve the draft today. Criticism has already emerged: the government is tapping into federal reserves and diverting funds from the Climate and Transformation Fund. The high level of debt is sparking debate.

Klingbeil compiled the draft under difficult conditions, grappling with financing gaps and budget shortfalls. The final decision by the Bundestag is expected by the end of the year.

The far-right AfD, which at its party congress once again emphasized its opposition role, will follow the debates from the opposition benches. Tino Chrupalla had previously expressed a desire to enter government.

Source: www.spiegel.de