Germany pushes ahead with budget preparations, savings encouraged, document shows

Germany's new finance minister has started intensive preparations for the 2025 and 2026 budgets, with savings necessary despite the fiscal room created by an infrastructure fund, according to a document seen by Reuters on Monday. According to the document, the draft budget for 2025 will be approved by cabinet on June 25, the first discussion in parliament will take place in July and the budget committee will finalise the details in September, when it should also be approved by lawmakers. In parallel, the first draft of the 2026 budget should be approved on July 30.