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German public surplus to narrow through to 2022 - stability council

German public surplus to narrow through to 2022 - stability council
FILE PHOTO: German Finance Minister Olaf Scholz attends a press conference after the federal cabinet meeting in Potsdam, Germany November 15, 2018. REUTERS/Axel Schmidt/File Photo -
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AXEL SCHMIDT(Reuters)
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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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