BERLIN—Germany is facing a budget shortfall of around 25 billion euros ($29 billion) by 2023 as an economic slowdown means tax revenues will come in below previous estimates, a Finance Ministry document obtained by Reuters showed.
Global trade tensions and concern about Brexit have already prompted Germany to slash its growth forecast for this year to 1 percent from 1.8 percent previously as a decade-long boom in Europe’s economic powerhouse draws to a close.
