🇩🇪Germany’s Central Bank Reports Losses for the First Time Since 1979
The German Central Bank has announced its first losses since 1979, totaling $19.2 billion. And that’s not all — after an audit, a $13.6 billion gap was discovered in Germany’s budget, with no clear explanation for the missing funds.
Despite record tax revenues, the budget deficit has grown. In 2024, income exceeded two trillion euros for the first time, reaching €2.013 trillion—an increase of 4.8% compared to the previous year. However, expenditures rose even faster, by 5.3%, reaching €2.132 trillion, which widened the state deficit.
For the first time in 15 years, the federal government, municipalities, and the Social Security Service all faced a funding shortfall.
Meanwhile, Friedrich Merz, Germany’s incoming chancellor, stated that one of his first actions in office will be to allocate a new aid package for Ukraine.
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The German Central Bank has announced its first losses since 1979, totaling $19.2 billion. And that’s not all — after an audit, a $13.6 billion gap was discovered in Germany’s budget, with no clear explanation for the missing funds.
Despite record tax revenues, the budget deficit has grown. In 2024, income exceeded two trillion euros for the first time, reaching €2.013 trillion—an increase of 4.8% compared to the previous year. However, expenditures rose even faster, by 5.3%, reaching €2.132 trillion, which widened the state deficit.
For the first time in 15 years, the federal government, municipalities, and the Social Security Service all faced a funding shortfall.
Meanwhile, Friedrich Merz, Germany’s incoming chancellor, stated that one of his first actions in office will be to allocate a new aid package for Ukraine.