Fri. Dec 8th, 2023

German Chancellor Olaf Scholz and Transport Minister Volker Wissing attended the third national aviation conference at Lufthansa Technik in Hamburg, Germany, on September 25, 2023. REUTERS/Fabian Bimmer/File Photo

BERLIN, Nov 21 (Reuters) – The transfer of funds back from Germany’s Climate Transformation fund following a top court ruling has caused a chain reaction that leveraged far more capital than previously anticipated. Economy Minister Robert Habeck emphasized the significance of these funds, stating that they are not an add-on that can be carelessly discarded. He expressed concern that the loss to the economy if investments were not made now would be even greater.

Habeck made these remarks at a news conference in the city of Jena, where he also mentioned that the government was now urgently preparing and discussing how to set up its budget in light of the court ruling and the missing funds. Transport Minister Volker Wissing also commented on the ruling, emphasizing the need to re-evaluate and check budget prioritization in light of its consequences on government funds. Wissing stated that this reassessment must take place immediately, and he could not anticipate the exact result at this time.

Reporting by Riham Alkousaa

Editing by Miranda Murray

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