Germany balances budget for 2nd straight year in 2015
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The Germany government says it has balanced its budget for the second consecutive year in 2015.
Chancellor Angela Merkel's conservative party has made ending new borrowing a key plank of its economic policy. The government was able to do without new borrowing in 2014, a year earlier than planned, for the first time since 1969.
The Finance Ministry said Wednesday it recorded a surplus of 12.1 billion euros ($13.1 billion) last year, up from 5 billion euros in 2014. Spending totaled 299.3 billion euros, slightly below the previous year's 301.9 billion euros.
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Finance Minister Wolfgang Schaeuble says the surplus will be needed to finance spending on accommodating and integrating refugees. He added: "We want, if possible, to get by without new debt this year as well."