AUGSBURG (Dow Jones) – According to a newspaper report, Germany is pushing billions in unused investment funds. In the Corona year 2020, 71.3 billion euros were available in the federal budget for urgently needed investments. Of this, however, 21 billion euros remained unused, as can be seen from figures from the Federal Ministry of Finance, which are available to the “Augsburger Allgemeine” (Tuesday edition).
The list of unsettled investments is therefore long and extends to almost all ministries. For example, part of the 2020 economic stimulus package should be used to expand and maintain the federal motorways. Around 680 million euros could have been spent and planned, in fact not even half of the money flowed. Around 350 million euros remained in the state treasury.
Considerable under-spending was therefore also recorded for planned investments in the hydrogen strategy. Around 200 million that were available in the 2020 economic stimulus package had not been spent. According to the figures, around 100 million euros were not used in the investment funding for the barn conversion. It is also a measure from the economic stimulus package 2020, according to the wishes of Agriculture Minister Julia Klckner (CDU), the money should “guarantee animal welfare”. According to the newspaper, 130 million euros remained unused in the cash register for the “economic measures for forest and wood”, and even 285 million euros for broadband expansion. Around 40 million euros were made available in 2020 for increasing the attractiveness of train stations. Of this, however, around 27 million euros did not flow out – plus another million that would have been available for the rail network in other areas.
In the opposition, the government’s financial conduct is being watched with shaking of the head. “The USA, China and many of our European neighbors invest significantly more than Germany,” said the Green budget expert Ekin Deligz of the “Augsburger Allgemeine”. The federal government, however, does not even manage to guarantee the outflow of funds for the planned investments. “Instead of wanting to finally become the top investment in the future, the government is satisfied with mediocrity,” criticized Deligz. But investments are needed to come out of the corona crisis strongly.
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(END) Dow Jones Newswires
April 05, 2021 22:00 ET (02:00 GMT)