German Budget Foresees 3.4 Percent Spending Rise Next Year

June 26, 2015 5:20 PM

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The German government plans to increase spending by 3.4 percent next year while borrowing no new money for the third year running — helped by a strong economy that has boosted its tax income.

The budget plan released Friday envisions 312 billion euros ($350 billion) in spending, up from 301.6 billion euros this year. The budget is expected to increase over the following three years, reaching 333.1 billion euros in 2019, while new borrowing remains at zero.

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