September 10, 2019 / 5:06 PM / a month ago

Germany sticking to balanced budget goal, Merkel says

BERLIN, Sept 10 (Reuters) - German Chancellor Angela Merkel said on Tuesday her government was sticking to its balanced budget policy, tempering expectations for fiscal stimulus in Europe’s largest economy.

“As a federal government, we take seriously the responsibility for a solid budget policy,” Merkel told an event organised by German taxpayers’ federation. “And I can assure you that we are sticking to the goal of a balanced budget.”

Earlier, Finance Minister Olaf Scholz said Germany was ready to pump “many, many billions of euros” into its economy to counter any significant slowdown in growth and the country must take bold measures to fight climate change before it’s too late.

Germany’s 30-year government bond yield rose into positive territory on Tuesday for the first time in over a month, lifted by expectations for fiscal stimulus and uncertainty over whether the European Central Bank will launch asset purchases this week.

Writing by Paul Carrel, editing by Ed Osmond

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