Germany aims for balanced budget to prepare for downturn

Germany's finance minister is proposing a balanced budget for the coming year, withstanding calls for fresh borrowing in preparation for a possible economic downturn

BERLIN -- Germany's finance minister is proposing a balanced budget for the coming year, withstanding calls for fresh borrowing in preparation for a possible economic downturn.

But recent indications of economic cooling have sparked concern that high tax revenues seen over the past years may decline sharply.

Scholz insisted that the proposed budget would include "many investments" to tackle climate change and social inequality.