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German Budget Mess Could Inflict Big Growth Hit in 2024, BE Says
Germany’s economy may grow next year by less than half the pace it could otherwise have achieved as the government reacts to a constitutional court ruling, Bloomberg Economics says. The judgment against the transfer of €60 billion ($65.5 billion) into a special fund for climate-related spending has cast uncertainty over several large investment projects and threatens a corresponding effect on output, economist Martin Ademmer wrote in a report on Thursday. “This could reduce gross domestic product growth by 0.5 percentage point next year, jeopardizing the gradual recovery after the downturn in 2023, and adding ... (full story)