Citing sources from Germany’s Finance Ministry on Monday, Reuters reported that the country’s Finance Minister, Christian Lindner, is planning net new debt of EUR16.6 billion ($18.06 billion) for the 2024 federal budget, which includes record spending on defense.
The draft 2024 budget and financial plan would be published on Wednesday, the sources added.
Market reaction
EUR/USD is unperturbed by the German headlines, trading at 1.0889, down 0.19% on the day, at the press time.
