German public surplus to slim via to 2022: stability council – Reuters

The Reichstag building, the seat of the German lower house of parliament Bundestag is pictured at the Tiergarten park with autumnal trees in Berlin, Germany, November 6, 2018. REUTERS/Fabrizio Bensch

BERLIN (Reuters) – Germany’s overall public surplus, including the federal budget, the states and municipalities, should register 1 percent of gross domestic product (GDP) next year before falling to 0.5 percent by 2022, the stability council said.

This year, the ministry expects an overall German public surplus of around 1.75 pct of GDP, said the council, which coordinates federal government and state finances.

Finance Minister Olaf Scholz said Germany would manage to get its debt quota to below 60 percent of GDP this year.

Reporting by Gernot Heller and Joseph Nasr; Writing by Paul Carrel; Editinbg by Michelle Martin

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