Germany is on track to post its largest budget deficit since reunification, the country’s central bank has warned, as Berlin ramps up military spending and financial aid to Ukraine.
In its December forecast, published on Friday, the Bundesbank said the government shortfall will rise steadily and reach 4.8% of economic output by 2028, the highest level since 1995, when deficits peaked in the years following German reunification. Public debt is also expected to increase over the same period.
The Bundesbank has linked the rising deficit mainly to higher defense spending, continued financial support to Ukraine, large infrastructure projects, tax…
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