German gov't to tackle budget crisis with savings

BERLIN, Dec. 13 (Xinhua) -- The German government announced on Wednesday that the 17 billion euro (18.36 billion U.S. dollars) gap in the 2024 budget due to the failed reallocation of COVID-19 relief funds for climate protection measures is to be closed through savings.

Although it has to "make do with significantly less money," the government is sticking to its green transformation plans, said Chancellor Olaf Scholz in a press conference. Savings are to be generated in particular by abolishing climate-damaging subsidies.