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Germany sees higher state spending cushioning economy

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Germany sees higher state spending cushioning economy
FILE PHOTO: People walk through the Mall of Berlin shopping centre during its opening night in Berlin, September 24, 2014. REUTERS/Thomas Peter   -   Copyright  Thomas Peter(Reuters)
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BERLIN (Reuters) – The German government expects state spending to rise this year, providing much-needed impetus for a slowing economy, an Economy Ministry document seen by Reuters on Thursday showed.

Federal investments are expected to rise to 154.5 billion euros(132.56 billion pounds)in the 2018-2021 legislative period. State spending will increase this year on higher social welfare stipends and pensions, the document showed.

(Reporting by Markus Wacket and Christian Kraemer; Writing by Joseph Nasr; Editing by Paul Carrel)

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