Off the wire
• 2nd LD-Writethru: Xinhua Insight: Xi praises survey workers, urges devotion from CPC members  • AKP candidate elected Turkey's new parliament speaker  • EU provides Ukraine 15 mln euros for humanitarian assistance  • U.S. stocks open sharply higher to kick off July trading  • Resale prices of Singapore's public housing flats fall 0.4 pct in Q2 2015  • Clashes, air strikes against IS militants kill 61 in Iraq's Anbar  • Urgent: Egypt forces kill 9 militants in Giza  • Roundup: Indonesia mulls over evaluating conditions of military arsenals after old military plane crash  • Vucedol Culture Museum opens in Croatia  • 4 presidential security officers killed in road crash in Kenya  
You are here: 　 Home

German gov't to keep balanced budget for next 4 years

Xinhua, July 1, 2015 Adjust font size:

German federal government announced on Wednesday that it would keep a balanced budget for the third consecutive year in 2016 and stick to the target through 2019.

The federal cabinet approved the government's draft budget for 2016 on Wednesday. In next year, German government plans to spend 312 billion euros (about 345.8 billion U.S. dollars), the same as its income from taxes and other revenues.

"This keeps the federal government committed to its solid and reliable budgetary policy," said German Federal Finance Ministry in a statement.

According to the budget, Germany's public investment will increase to 30.4 billion euros in 2016 from 30.1 billion euros in current year, focusing on transport infrastructure, digital infrastructure, energy efficiency, climate protection and urban development.

In the following years through 2019, German government plans to increase its spending to the amount of income, adding no new borrowings and sticking to a target of "black zero."

The government said its ratio of debt to gross domestic product would decrease to below 70 percent next year and to under 60 percent by the end of this decade. Endit