By Andrea Thomas
BERLIN--Germany's ruling coalition parties said Friday they have raised the government's 2017 spending plan slightly due to higher security- and migration-related expenditure, but will keep the balanced budget goal in place.
Next year would mark the government's fourth balanced budget in a row, reinforcing Germany's position as one of the more robust large economies in the eurozone.
The federal government's overall expenditure will rise by 3.8% to 329.1 billion euros ($359 billion) in 2017 from EUR316.9 billion in 2016, up EUR400 million compared with the draft 2017 spending plan.
The decision came during a meeting of the lower house of parliament's budget committee that ended earlier Friday. The plan includes EUR36.1 billion in investment spending.
"We are continuing our successful budget policy of the past years with the government's 2017 budget," said Eckhardt Rehberg, budget spokesman and lawmaker with Ms. Merkel's Christian Democratic Union. "Investments in transport infrastructure, broadband rollout, education and research will drive Germany forward economically. The investment ratio of 11% is the highest in years."
The coalition also agreed on extra spending for security, defense and humanitarian issues.
The lower house of parliament will vote on the budget later this year.
Andreas Kissler in Berlin contributed to this article.
Write to Andrea Thomas at firstname.lastname@example.org
(END) Dow Jones Newswires
November 11, 2016 03:27 ET (08:27 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.