May 2, 2018 / 11:35 AM / a year ago

German ministries must spend within their means - finance minister

BERLIN, May 2 (Reuters) - Plans to decrease German public investment after 2019 correspond to the government’s commitment not to take on net new debt, Finance Minister Olaf Scholz said on Wednesday.

“All the ministries who have plans must do so within the possibilities available in our country and we wrote in our constitution that we want to pursue policies that allow the states no new debt from 2020 and for the federal government only a very small amount of new debt,” Scholz told a news conference.

He also said the government would raise defence spending within its means, and that the defence and development ministries had made written requests for extra funding. (Reporting by Joseph Nasr Writing by Paul Carrel Editing by Madeline Chambers)

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