Germany to raise spending, keep budget balanced in 2017

Published September 06, 2016

In this photo taken with reflection through windows at the visitors tribune, German Finance Minister Wolfgang Schaeuble delivers his speech during the first day of the budget 2017 debate at the German parliament Bundestag in Berlin, Tuesday, Sept. 6, 2016. (AP Photo/Markus Schreiber) (The Associated Press)

German Finance Minister Wolfgang Schaeuble delivers his speech during the first day of the budget 2017 debate at the German parliament Bundestag in Berlin, Tuesday, Sept. 6, 2016. (AP Photo/Markus Schreiber) (The Associated Press)

Germany's finance minister says the country will keep its budget balanced despite increasing spending on research, training and infrastructure, as well as dealing with the huge influx of migrants last year.

Germany's budget has been balanced since 2014 and Finance Minister Wolfgang Schaeuble told Parliament on Tuesday his plans through 2020 foresee it remaining that way. His budget for 2017 includes a 3.7 percent increase in spending as well as some limited tax relief measures, which he says will be offset by higher tax receipts thanks to economic growth.

Schaeuble says Germany "must now prove that the integration of the many refugees can succeed." Hundreds of thousands of refugees and other migrants came to Germany last year.

https://www.foxnews.com/world/germany-to-raise-spending-keep-budget-balanced-in-2017