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High oil prices, driven by geopolitical tensions and Middle East attacks, are burdening global stock markets and German industry. Analysts foresee oil prices potentially reaching $120 per barrel by 2027, intensifying inflation and interest rate concerns.
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Katharina Dröge, parliamentary group leader of Alliance 90/The Greens, comments on budget week. The article title is "Klingbeil Tricks".
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The planned transport budget for 2027 includes cuts to rail infrastructure, bridge repairs, and climate-friendly measures. Despite a special fund for infrastructure and climate neutrality, associations and the opposition criticize the reduction of funds for maintaining and expanding the rail network, as well as for e-buses and cycling.
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The Bundestag is discussing the draft budget for 2027, which foresees higher spending and debt. Planned expenditures in the core budget are 555.4 billion euros, with net borrowing of 118.7 billion euros. Criticism has been raised regarding the focus on defense and the planned transfer of funds from the Climate and Transformation Fund.
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China's exports increased by 25 percent in August compared to the previous year, driven by strong demand for cars and high-tech products. The trade surplus rose to 119.1 billion US dollars.
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The Social Association of Germany (SoVD) is calling for a change to planned reform projects. Specific details of the requested course correction are not mentioned in the provided text.
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The Ukrainian Prosecutor General has resigned due to corruption allegations to prevent political instrumentalization of his office. The anti-corruption authority Nabu and a special prosecutor's office had previously uncovered a money laundering network allegedly led by an individual from the Prosecutor General's office.
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German budget plans for the coming year include expenditures of around 555 billion euros, resulting in new debt exceeding 200 billion euros. Budget deliberations in the Bundestag are ongoing until Friday.
GovernmentCompanies & MarketsHousing & Urban Development
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Spain has launched a new state housing portal, CASA 47, offering 800 rental apartments with income-dependent rents. Rents are capped at 30 percent of income, with initial contracts lasting 14 years.
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Two-thirds of Germans are looking worriedly at the election results in Saxony-Anhalt. Almost half of those surveyed believe AfD top candidate Ulrich Siegmund should be elected Minister-President. Three-quarters believe a critical stance towards the federal government's social reforms is deserved.
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