Core Points - The German federal cabinet has approved the draft budget for 2026, focusing on public investment as a key aspect of fiscal policy, with the investment scale reaching a new high following 2025 [1] - The total planned expenditure for the German federal government in 2026 is €520.5 billion, representing a 3.5% increase from the previous year [1] - Public investment is set to reach €126.7 billion, marking a historical peak, with funds directed towards transportation infrastructure, housing construction, digital development, and national defense [1] - A portion of the funding will come from a special infrastructure fund approved by the Bundestag in March, which has a total scale of €500 billion [1] - Analysts indicate that even with the special fund, it will be challenging to alleviate the tight fiscal resources, as current economic growth is weak and tax revenues have not met expectations [1] - The German Economic Institute has stated that the federal government's tax cuts and economic stimulus measures have further increased fiscal pressure, leading to an expanded fiscal gap [1] - The draft budget is expected to show a budget deficit of €172 billion from 2027 to 2029 [2] - The draft will be submitted to the Bundestag for review and voting by the end of this year [3]

Core Points - The German cabinet approved the 2026 fiscal budget, totaling €520.5 billion, a 3.5% increase from 2025 [1] - The defense budget will rise to €83.7 billion, a significant increase of 32% compared to the current year [1] - The government plans to increase the defense budget to €152.8 billion by the end of 2029, which will account for 3.5% of the GDP that year [1] - The budget includes new debt of €89.9 billion, primarily aimed at stimulating the economy to escape recession and achieve growth [1] Opposition Reactions - The largest opposition party, the Alternative for Germany (AfD), criticized the government for ineffective spending, which increases the debt burden [1] - The Green Party expressed dissatisfaction with cuts to welfare spending and tax reductions for high-income individuals [1] - The Left Party accused the government of significantly increasing military spending while reducing allocations for social governance and environmental initiatives [1] Legislative Process - The 2026 fiscal budget will be submitted to the Bundestag and Bundesrat for review in the second half of the year [1]

Core Viewpoint - The German cabinet has approved a record budget for 2026, which includes significant investments aimed at modernizing infrastructure and increasing military spending [1] Investment and Borrowing - The approved budget includes a record investment of €126.7 billion and borrowing of €174.3 billion [1] - This marks a shift from decades of fiscal conservatism as Germany seeks to restore economic growth [1] Economic Context - Germany, once an economic powerhouse, is now seen as lagging within the Eurozone [1] - The budget aims to address the need for modernization of outdated infrastructure and expand military capabilities [1]

Group 1 - International silver prices maintained a critical level at $36.30, with a daily high of $36.93 and a low of $36.60, indicating market stability [1] - The U.S. employment report for June exceeded expectations, with the unemployment rate dropping to 4%, suggesting a robust labor market [2] - The optimistic economic data from the U.S. supported a rise in the dollar, impacting silver prices positively [3] Group 2 - Silver prices closed at $36.85, marking a 0.80% increase, and are approaching a double bottom pattern, indicating potential upward movement [3] - A breakthrough above the June 26 high of $36.83 is necessary for silver to challenge the year-to-date high of $37.31 [3] - Key resistance levels for silver are identified at $37.49 and $38.00, while a drop below $36.00 could lead to further declines [3]

Group 1 - The German government cabinet approved the 2025 budget draft and the 2026 budget framework on October 24 [1] - The new budget focuses on increasing investment to stimulate economic growth, with planned investments of €115.7 billion in 2025 and approximately €123.6 billion in 2026, significantly higher than the €74.5 billion investment in 2024 [2] - The Deputy Prime Minister and Finance Minister, Christian Lindner, stated that Germany will maintain annual investments of around €120 billion until 2029 [2] Group 2 - The budget draft includes a medium-term financial plan indicating that defense spending will reach 3.5% of GDP by 2029, with an estimated defense budget of €95 billion in 2025 and €162 billion by 2029 [3] - The previous German government collapsed in November last year, which delayed the approval of the 2025 budget, leading to the use of a temporary budget since 2025 [3] - The 2026 budget framework is scheduled for discussion in the Bundestag in September, with approval expected in November and the Bundesrat in December [3]

Group 1 - The German government cabinet has approved the draft budget for 2025 and the budget framework for 2026, significantly increasing defense spending [1] - The investment amount for 2025 is set to reach €115.7 billion, and approximately €123.6 billion for 2026, a substantial increase from €74.5 billion in 2024 [1] - The Deputy Prime Minister and Finance Minister, Christian Lindner, stated that Germany will maintain an annual investment of around €120 billion until 2029 [1] Group 2 - The mid-term financial plan included in the 2025 budget draft indicates that defense spending will account for 3.5% of GDP by 2029 [1] - The defense budget for 2025 is approximately €95 billion, projected to rise to €162 billion by 2029 [1]

Group 1 - The German government cabinet approved the 2025 budget draft and the 2026 budget framework, focusing on increasing investments to promote economic growth [1] - The investment amount for Germany is set to increase to €115.7 billion in 2025 and approximately €123.6 billion in 2026, significantly higher than the €74.5 billion investment in 2024 [1] - The German Vice Chancellor and Finance Minister, Christian Lindner, stated that Germany will maintain an annual investment of around €120 billion until 2029 [1] Group 2 - The budget draft includes a medium-term financial plan extending to 2029, with defense spending projected to reach 3.5% of GDP by that year [1] - Defense spending is estimated to be around €95 billion in 2025, increasing to €162 billion by 2029 [1]

Core Viewpoint - The U.S. Senate Finance Committee is scheduled to hold a budget hearing for the fiscal year 2026 on June 12 [1] Group 1 - The hearing will focus on the budgetary allocations and financial planning for the upcoming fiscal year [1]

Group 1 - The UK Prime Minister Starmer announced that the government will consider the winter fuel threshold issue in the upcoming fiscal budget [1]

Core Insights - The Governor of the Qatar Central Bank indicated that the decline in global energy prices may impact Qatar's fiscal budget and current account [1] Group 1 - The potential impact of falling global energy prices on Qatar's financial stability is highlighted [1]