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Kretschmann expects the economy to collapse

2022-07-27T13:25:56.753Z


Kretschmann expects the economy to collapse Created: 07/27/2022, 15:09 Winfried Kretschmann speaks in an interview with SWR. © Christoph Schmidt/dpa Baden-Württemberg's Prime Minister Winfried Kretschmann is preparing for a slump in the economy and in tax revenues due to the consequences of the Ukraine war and the gas crisis. "We expect that," said the Green on Wednesday the SWR and the German


Kretschmann expects the economy to collapse

Created: 07/27/2022, 15:09

Winfried Kretschmann speaks in an interview with SWR.

© Christoph Schmidt/dpa

Baden-Württemberg's Prime Minister Winfried Kretschmann is preparing for a slump in the economy and in tax revenues due to the consequences of the Ukraine war and the gas crisis.

"We expect that," said the Green on Wednesday the SWR and the German Press Agency in Stuttgart.

"It can happen that way." In the event of a recession, the country would have to completely reorganize its budget.

Stuttgart - "But that will be a completely different event."

At the moment there is still money for additional investments.

“If there is a recession, then you will have less income.” Buffers have been created for risks.

"But that will not be enough if there is a recession." If the economy collapses, there is the possibility of taking on new debt.

But currently one is still able to make a budget without new loans.

"And we try to avoid that too."

Kretschmann was otherwise satisfied with the budget talks between the Greens and the CDU, they were "very focused and constructive".

"Resounding agreements" had been reached on the additional expenditure, and new positions still had to be agreed at the next meeting in September.

The leaders of the Greens and CDU had agreed on Tuesday evening to increase additional spending by 1.38 billion euros.

The buffer for possible tax shortfalls was reduced by 140 million euros to 460 million euros.

dpa

Source: merkur

All news articles on 2022-07-27

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