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Germany to borrow more from capital markets in 2018, debt agency says

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Germany to borrow more from capital markets in 2018, debt agency says

The German government is planning to borrow more from markets in 2018 as it seeks to pay back more old debt to creditors than this year, Reuters reported, citing the Finance Ministry's debt agency.

Excluding inflation-linked debt, the agency said it is planning to issue €183 billion of debt in 2018, €6.5 billion more than in 2017. The agency also said that it planned to issue €147 billion in longer-term nominal capital market instruments and €36 billion in money market instruments as well as between €6 billion and €10 billion in inflation-linked securities.

Chancellor Angela Merkel's government is keen on keeping the federal budget balanced for the fifth consecutive year in 2018 but the inability to pay back old loans out of incoming revenues means that Berlin will have to resort to capital markets, Reuters said.