Germany to Use EU Funds to Trim About 15 Billion Euros From Debt

Germany will use its share of the European Union’s rescue program to avoid taking on more debt rather than fund new growth initiatives.

Chancellor Angela Merkel’s coalition agreed to spend about 15 billion euros ($18 billion) from the EU on existing programs, including measures already part of Germany’s stimulus plan as well as the country’s coal exit, according to people familiar with the discussions.

The goal of the deal, agreed on Tuesday in Berlin, is to keep new debt in check in 2021 and 2022, when the funds roll in, said the people, who asked not to be identified ...