Germany plans extra 10 bn euros in public investment by 2018

German Finance Minister Wolfgang Schaeuble addresses a press conference in Berlin on November 6, 2014Germany plans an additional 10 billion euros ($12 billion) in public investment by 2018, its finance minister said Thursday, amid calls by some EU partners to do more to help the eurozone economy. “I will propose to the cabinet that we allocate additional means for public investment of the order of 10 billion euros” by 2018, Wolfgang Schaeuble told reporters. He said the move would represent a “fundamental contribution” to a plan announced by new European Commission president Jean-Claude Juncker for an extra 300 billion euros in investment for the coming years. Asked where the additional expenditure would be focused, he spoke of research and education, as well as transport infrastructure, including the railways, and strengthening the finances of local authorities to support investment in construction.

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