July 19, 2019 / 9:12 AM / 3 months ago

Merkel: Germany is right to have balanced budget policy

BERLIN, July 19 (Reuters) - Chancellor Angela Merkel said on Friday that Germany was right to pursue a balanced budget - despite Europe’s largest economy slowing - especially given the country’s ageing population.

The federal government has managed to increase spending without incurring new debt since 2014. In March the cabinet passed a draft budget for 2020 that calls for a 1.7% spending increase and relies on ministries to cut costs to avoid incurring new debt.

Reporting by Michelle Martin Editing by Paul Carrel

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