German public surplus to narrow through to 2022 - stability council

Record ID: 1367061

  • Title: German public surplus to narrow through to 2022 - stability council
  • Date: 6th December 2018
  • Summary: BERLIN, GERMANY (DECEMBER 6, 2018) (REUTERS) VARIOUS OF GERMAN FINANCE MINISTER AND VICE CHANCELLOR OLAF SCHOLZ ARRIVING FOR NEWS CONFERENCE (SOUNDBITE) (German) HEAD OF INDEPENDENT ADVISORY BOARD AND PROF. AT ERLANGEN-NUREMBERG UNIVERSITY, THIESS BUETTNER (pron.: TEE-s BOOT-ner) SAYING: "We know that we currently have a very large surplus in Germany, about one percent of the economic output for 2017. We know that it appears that the surplus in the current year will again rise very strongly. Based on projections presented to us this surplus will then rapidly fall already next year and will fall further until the year 2022." BACK SHOT OF PODIUM PHOTOGRAPHERS (SOUNDBITE) (German) GERMAN FINANCE MINISTER AND VICE CHANCELLOR, OLAF SCHOLZ, SAYING: "We were able to look at the result again today that Germany sticks to European deficit requirements. That is also the result we received from the independent advisory board. We stick to European rules and we fulfil deficit requirements which arise in the future." SCHOLZ SEEN IN VIEWFINDER (SOUNDBITE) (German) GERMAN FINANCE MINISTER AND VICE CHANCELLOR, OLAF SCHOLZ, SAYING: "At the same time we can announce that depending on the outcome of the settlements, we are able to get the debt quota to below 60 percent of GDP. That's a very significant improvement." BACK SHOT OF SCHOLZ AND DORIS AHNEN, STATE FINANCE MINISTER OF RHINELAND-PALATINATE AND STABILITY COUNCIL MEMBER REPORTER'S NOTEPAD (SOUNDBITE) (German) STATE FINANCE MINISTER OF RHINELAND-PALATINATE AND STABILITY COUNCIL MEMBER, DORIS AHNEN, SAYING: "I don't want to be talking about risks yet but of course there are indications that the economic peak could have been reached and that there will be a slowdown. There are also the known foreign trade risks which we have to bear in mind when we look at the near future." WIDE OF NEWS CONFERENCE
  • Embargoed: 20th December 2018 12:12
  • Keywords: Finance Minister Olaf Scholz stability council
  • Location: BERLIN, GERMANY
  • City: BERLIN, GERMANY
  • Country: Germany
  • Topics: Economic Events
  • Reuters ID: LVA00199T3KP9
  • Aspect Ratio: 16:9
  • Story Text: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 on Thursday (December 6).
    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.
  • Copyright Holder: REUTERS
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