German debt agency to cut borrowing next year

The agency plans to issue up to €199.5bn of debt in 2015 compared with €212 bn this year

Germany plans to cut federal debt issuance to the lowest level since 2002 next year as it seeks to present its first balanced federal budget in almost half a century, the country's debt agency said on Wednesday.

Including inflation-linked debt, the agency plans to issue up to €199.5 billion of debt in 2015 compared with €212 billion this year.

The debt agency said it planned to issue around €147 billion in longer-term nominal capital market instruments in 2015 and around €38.5 billion in money market instruments.

It said it would also issue between €10 billion and €14 billion in inflation-linked securities.

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Reuters