March 15, 2017 / 11:09 AM / 6 months ago

German Finance Minister says sees mid-term rise in interest rates

German Finance Minister Wolfgang Schaeuble presents draft budget for 2018 and mid-term plans for state spending until 2021 during a news conference in Berlin, Germany, March 15, 2017. REUTERS/Fabrizio Bensch

BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said on Wednesday he expects interest rates to rise in the medium term which would play into budget planning.

Presenting preliminary budget plans for 2018, Schaeuble also reiterated that he saw scope for about 15 billion euros in tax cuts after the September election, adding his focus would not be on reducing sales tax.

Reporting by Michael Nienaber and Madeline Chambers

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