The German cabinet approved fiscal plans for 2017 on Wednesday. Fiscal plans include higher spending on migrants, security and infrastructure without new debt.

"We are investing in infrastructure, education and research, we are doing what is needed to guarantee domestic and external security and we are helping migrants - all without new borrowing," German Finance Minister Wolfgang Schaeuble said.

Germany plans to spend on migrants €10 billion in 2017. The government's spending is expected to rise by €30.9 billion to €347.8 billion by 2020.