September 11, 2018 / 8:48 AM / 2 months ago

Germany may meet EU debt ceiling goal this or next year - Scholz

German Finance Minister Olaf Scholz speaks during the 2019 budget debate at the lower house of parliament Bundestag in Berlin, Germany, September 11, 2018. REUTERS/Hannibal Hanschke

BERLIN (Reuters) - Germany could meet the European Union’s Maastricht debt ceiling target, under which public debt amounts to no more than 60 percent of national output, this year or next, Finance Minister Olaf Scholz said on Tuesday.

“It is good that in the tenth year of this financial crisis we can say that this year or probably next year it is possible that we will achieve the Maastricht criteria of 60 percent debt ratio,” Scholz, a Social Democrat, told parliament.

He also said it was right that the German coalition under conservative Chancellor Angela Merkel has agreed to use any financial wiggle room for defence and development spending.

Reporting by Michelle Martin and Paul Carrel; Writing by Madeline Chambers

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