On June 24, 2023, Germany's federal cabinet approved the budget for 2025, presented by Finance Minister Lars Klingbeil. This approval comes after the collapse of the previous traffic light coalition due to budget disputes. The new budget revolves around an expenditure of €503 billion, including a significant focus on social housing, with €3.5 billion allocated to create affordable and climate-friendly housing. Despite the sizable budget, departments will face cuts, potentially affecting social services and new projects, indicating a challenging economic environment for citizens, especially foreign residents in Germany.
Despite the recent collapse of the traffic light coalition, Germany's federal cabinet has approved a budget for 2025 that seeks to address housing and infrastructure needs.
Finance Minister Lars Klingbeil's budget for 2025 indicates a continuation of funding for housing and social projects, focusing on affordable and climate-friendly solutions.
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