Germany to raise spending, keep budget balanced in 2017

AP

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.
driven by foreign demand, German factory orders rise
The German Economy Ministry says factory orders increased in July, driven by foreign demand, primarily from within the eurozone.
The ministry said Tuesday that industrial orders were up 0.2 percent on June, according to seasonally adjusted figures.
Domestic orders actually dropped 3 percent, but that was offset by a 2.5-percent increase in foreign orders including a 5.9 percent increase from within the eurozone. Orders from outside the bloc of countries using the euro currency rose 0.6 percent over June 2016.
July’s increase comes after a 0.3 percent decrease in June, and a 0.1 percent increase in May.
Overall, new orders have been relatively flat this year, which the ministry says suggests “rather quiet industrial activity in the fall.”