israel has been extended for another 2 days and, and now they live in hostages as a ride back in israel, off to being released by the palestinians. but it's improved. sometimes the new prisoners have also been presented to the territory. you're up to date coming up. what germany's government is doing to bolster its shaky budget, i'll see at the top the out by the ukraine was like a stepping points to external type, thoughts you into that warranty. once i finish your studies, now you have a certificate from crane. you can just go back to somewhere else currently, more people than ever on the move world wide in search of,

of best in life. so why do i want to go back tonight? yeah. like, i don't have any reason. there's no reason that's nothing for me. this yeah, i believe something green is coming very, very soon on. we know when the story in for my reliable nice her migraines, wherever they may be, the less money, more problems, germany's economy. a new star says financial support for companies transitioning towards a green economy will be upheld despite the government's budget. also coming out as the u. n. is set to play a bigger role in the national tax corporation. we'll hear from an expert why he thinks the global south in particular sense to benefit from and will tell you why

cyprus is no longer a hotspot. for is really invest impressed cold will walk into the program. germany's economy minister says he wants to continue with the funding of multi 1000000 euro economic projects. that's despite a recent court ruling, preventing the government from re purposing left over funds. raised to find the pandemic, the ruling trigger a crisis over the government's budget for next year, as it cannot raise new debts due to a constitutional so called that break robot. how accepted the federal government and the states of germany are working together to find a way to keep the money flowing to the project, less describing them as affecting the economic heart of german. interesting big fears on more on what do you have to say? the projected mcgee mentioned the project like within the climate, then transformation, fun concerned the heart of germany's economy towards loans. the economy data behind

this has become common knowledge to kinda understand, due to the loss of the 60000000000 euros expected from this funded. we're expecting economic growth to drops by at least half a percentage point this year. and this trend will continue in 2025 and 26 if to a lesser degree. at this point, we have to defend the substance of germany's economy and we have to build trust in our businesses across the country by the indian with your own fed, thrown indian between a hyphen good. that's good to hear of carson jesse on this search. he's economist at i n g germany. welcome back to the problem, carson. have a percentage point less of g d p growth affects to the government's budget crisis. that's what the economy minister is predicting. is that realistic or do you anticipate a worse impact as a side even worse, chris? um cuz yeah, so point 5 percentage points impact is realistic. given the size of this 60000000000 euro hole,

because they 60000000000 is around 1.6 percent off duty to some kind of a sturdy measures. what for the already know, or if you the p growth by all point higher percentage bonds. but this is not everything, it is also about uncertainty that has gone up through the roof against the uncertainty and most consumers uncertainty amongst the corporate. so given this policy answer me right now, there will be even more of holding back investment. there will be even more holding back of consumption slide to the 2024. if we won't find a quick solution for this fiscal issue, 2024 will be worse than 2023. and for 2023, i think we should already expect a recession bar rock minus all point 5 percent of the economy ministers, promising that all financial support promise to companies trying to transition towards a green economy will be upheld despite this very difficult fiscal situation

at what cost as well either at the cost of the maybe a falling of the government otherwise and the cost of a higher taxes or expenditure comes else we're going to where where's the status for the status quo? oh is that there is not enough money also not in the 2024 budgets to to fund all the plans that the government had announced. so that is a sense of either. now, the government can deviate once again from the fiscal desperate, which i think they won't dare to, and wish legally were really very complicated. otherwise, they found a structural solution say, all right, let's go for a complete make over of the day of the dead break. but for this, they need the opposition to shoot you and i think that's also not going to happen. so that's the only thing is if you have to do it with the money that there is in the budget, it means there are more expansion plans that money coming in. so this means other expenditures, like for example, the social care. but also the, the dual guide gale,

which, which is a kind of social benefits they should be cut again, or they would have to start talking about higher texas something the liberals, the ftp haven't ruled out so far. custom. jessica, chief economist at i n g germany carson, as always, thank you for your thoughts. last week, countries at the united nations voted for the organization to take a greater role in international tax matters. the move is perceived as a threat to the ascendancy or the only cd, the body that has led these discussions for decades. countries that the u. n. adopted a resolution to begin the process of establishing a framework convention on tax and completely change our global tax rules. are the side resolution, was that primarily by african member states and could eventually move decision making on global tax rules from the city club developed countries to the

us before the show, i spoke to alex called them of the tax justice network and asked him why he thinks that developing countries stand to benefit from the u. n. playing a bigger role and taxing multi nationals and individuals. here's organization says that the tax avoidance costs the world around $480000000000.00 annual. the larger part of that is lost by alicia the members, the rich countries themselves. but as a share of current tax revenues is much bigger, much more intense, those losses for lower income countries. so this thing, countries that doesn't have a voice within the c d, which has been accepting the tax rules for about 60 years. of the countries that lose are in the way that's most damaging. and so they lose almost on average, almost 50 percent of the public health budget compared to perhaps 9 or 10 percent

in the high income countries. so that's why it's really important that this is a step on the way to lower income countries having an equal, say, infesting the rules. that doesn't mean will get to a perfect solution. but it certainly means there's a lot of space for all countries to to be much better off alex, let's take a closer look at this agreement. the to tech deal aims to create a 50 percent global minimum corporate tax rate and calls for a new treaty that would shift some taxing rise on the most profitable multi nationals to countries where the companies clients are located. now how likely is it that these plans will become reality? it is not terribly likely, but that is nothing to do with what's happening to the united nations. that's purely because the city, the 2 pillars have really lost so much of their emission. so the pillar one was originally designed to, to really make a profit shifting, almost impossible. in the most ambitious version,

it would have required all of the profit, some of the national companies to be declared and taxed in the same places that they're carrying out the real economic activity. so that would still be shifting prospects into places like the method. wenzel island, deluxe and bug, you know, away from the places that the companies are actually making that money. but that's collapse matter. so what's left is a bit of a bit of alignment of profit with activity that applies only to a small fraction of the profit of view within one hundreds of the mileage as multinational. all other profits remain under the old rules and links pricing that we know to work. so that one's going on top is that the united states a signal that they wouldn't be able to ratify. and the rules as, as the of the city interested them means that that means nobody else can move ahead with this either. typically one is pretty much dated. and that's, that's just the way you see doing that pillar to the minimum tax. as you say, in theory, that would apply a rate of 15 percent very low,

but much better than the kind of 0 or 5 percent perhaps that the companies often pay in those you are paying tax savings like the math of them. just like look some book. so it feels like a step forward. but actually when you look at the detail as people now have the way that this is involved in the last couple of years. again, it's lost a great deal of it. it's an impression. so what we see now is the revenue gains are going to be much lower than the of the cd originally projected. and on top of that, most of them will be captured by those corporate tax savings, these profit shifting jurisdictions. so those are the ones the most, the most excitedly bracing this, you know, we see switzerland it's, it's different ken tones competing with each other to see how they can get the most out of this for most of the countries that can continue suffering, profit shifting justice they have done up till now, and that's why really countries are looking into the united nations to see if we can find a better with a better way forward. instead,

alex called them of the tax just as a network there. and you can watch our entire conversation on the dw, use youtube channel. it is for 5 years now, and the country has for years been a hotspot for investment, standing from israel. but that has changed since the october 7 attacks by a moss and israel's counter offensive against the terrorist slippery and real estate companies in particular are seeing major drops in demand. dw is jack power reports mostly about shelton is a real estate developer in cyprus. he's building large scale projects like this one in law and using money coming, at least in parts from is really investors. he says there's been a 90 percent drop in investments since the terror attack. everything is in, in the whole. the people that were aiming to sign contracts said they want to reconsider said they want to postpone the signing and any other marketing campaigns

. the also stops and the people are just waiting to see what the future will be. one reason these rated currency, the ship, who dropped 10 percent against the euro. in the immediate off the most of the attack developers on the big construction projects like days expect to be able to ride any short term shift in demand. but here in cyprus, that has also been a shift in the real estate market for people to move into prophecies immediately. vessel cycle says he's been selling significant numbers of homes in law and the cookie young use way, the families for the past decade. i use $22.00 bits and also 20 or to be quite yeah, they said they from from each right. that is phase that they haven't done. he believes it's certainly temporary though. i says that's a very interesting cypress. didn't stop is just a push. cypress is home to around $3000.00 jewish families already. they say they

feel safe here long the crew is popular because it has to be international airport . a 40 minute flights to tel aviv make go move to 6 years ago and has been visiting properties like this to advise friends and family back in israel and want to invest in and why the price is uh, i would say half of what is the price and is uh around half a price is the lease where the property are relatively high. it's too soon to know how significant the market shifts will be for the overall cit, prius economy. but businesses connected to over lions on these really money ro, bracing themselves. and that wraps up our show for more check out our website at d, w dot com slash business, and the dw use youtube channel. i'm chris kolber on the line from me and the entire team. thanks for watching. have a successful the

institute this award recognizes people connected via the interest of 2023 bits and metals go to recipients from the leasing type. hey, in budapest, the next on d. w, a pulse. the beginning of a story that takes us along for the ride. it's about the perspectives culture. information. this is the the news w.

mine's he's got a lot say what the mean has all, there's a bird in taiwan called the oriental turtle. dove gets cooped up in a cage to keep scratching at the sides and eventually i will die when that owns. and even if i stayed in one place, i might end up like one of the startled out as, as they don't loyal funding. joseph has to put together once we have and share either or the experience is the resources, the knowledge to use and that's where you have any darn it. i never know once about emigrating going to another country. you should live way you feel like how is it

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