Germany will generate less tax revenue in the coming years, in large part due to the “irresponsible” Middle East war launched by US President Donald Trump, AFP reports citing Finance Minister Lars Klingbeil.

Tax income for the federal government and local authorities is projected to be nearly €70 billion ($82 billion) lower between 2026 and 2030 than forecast in October, ministry figures show. For this year alone, revenues have been revised down by €17.8 billion.

This estimate “shows just how much the war in Iran is harming our economy”, says Klingbeil in a statement.

“The irresponsible war waged by Trump and the resulting global energy price shock are currently slowing positive economic momentum,” he adds.