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Flush with cash, Germany finds another 5 billion euros to spend
The German government, flush with cash after last year posting of its first budget surplus since 1969, said on Tuesday that it will boost investment spending by some 5 billion euros over the next three years on top of 10 billion previously announced. Under pressure from its European Union partners and the United States to raise its public investment spending, the Finance Ministry said that it will give local communities some 3.5 billion euros over the next three years from a new fund of "special assets" along with an added 1.5 billion euros in 2017. "All in all, the federal government will be making available some ... (full story)