June 5, 2020 / 5:57 AM / a month ago

Germany should return to balanced budget in next legislative period: minister

FILE PHOTO - German Economy Minister, Peter Altmaier, addresses the media during a news conference in Berlin, Germany June 4, 2020. Michael Sohn/Pool via REUTERS

BERLIN (Reuters) - Germany should return to a balanced budget in the next legislative period, German Economy Minister Peter Altmaier told a magazine, after Europe’s largest economy announced a massive stimulus package to speed recovery from the coronavirus.

“It is therefore very important that we return to a balanced budget in the next legislative period, as difficult as that may be,” Altmaier told Focus Online in an interview published on Friday.

Altmaier also said he expects tough negotiations on a European Union recovery fund during Germany’s six-month EU presidency from July 1. But he said he was sure everyone was aware of what was at stake, namely Europe.

Reporting by Scot W. Stevenson; Editing by Michelle Martin

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