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Germany to Stop Curbing Gas, Electricity Prices in 2024 - Finance Minister

© AP Photo / Martin MeissnerChristian Lindner of the Free Democratic party FDP
Christian Lindner of the Free Democratic party FDP  - Sputnik International, 1920, 25.11.2023
MOSCOW (Sputnik) - The German government will stop financing the measures to keep gas and electricity prices from growing starting in January 2024, German Finance Minister Christian Lindner said on Friday.
"The state 'brake' on electricity and gas prices will not be extended until March 2024 but will last until the end of this year," Lindner said in an interview with German radio station Deutschlandfunk.
Spending from the Germany's Economic Stabilization Fund, including on measures to maintain energy and electricity prices at the same level, will expire on December 31, the minister said. He added that he also opposed reforming the mechanism for combating fuel prices inflation.
"Our state's problem is not with the incomes but with the spending," Lindner said.
The minister also doubted that it would be possible to approve the 2024 draft budget before the end of December, but added that "promising" reforms were on the way.
Germany's Chancellor Olaf Scholz. File photo - Sputnik International, 1920, 09.10.2023
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The Constitutional Court of Germany ruled last week that the move by the Social Democrats, the Greens and the Free Democrats — known as the "traffic light" coalition — to transfer unused pandemic-era loans to a climate fund would violate the debt brake rule, which is a constitutionally enshrined cap on new government borrowing. As a result, 60 billion euros ($65 billion) was wiped from the government's spending plan for 2024.
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