Germany's 2020 budget set to rise by 1.1% - draft

BERLIN (Reuters) - Germany's federal budget will rise to about 362 billion euros (£312 billion) next year, a draft budget passed by a parliament committee showed on Friday, representing an increase of 1.1% from 2019 and sticking to a balanced budget.The amount is 1.7 billion euros higher than proposed by Finance Minister Olaf Scholz.The centre-left Social Democrat, who is junior partner of Chancellor Angela Merkel, can only keep the budget balanced by tapping a reserve that was meant to be used..