Germany's cabinet on Wednesday approved budget plans that foresee the federal government taking on no net new debt through to 2022 and investment rising this year and next before falling.
"I am convinced: in good economic times, a responsible fiscal policy must achieve both a reduction in debts and a rise in investments," Finance Minister Olaf Scholz said in a statement.
Investment would rise from €34 billion last year to €37 billion this year and €37.9 billion in 2019, before decreasing to €33.5 billion in 2022, Finance Ministry fiscal plans approved by the cabinet showed.