BERLIN (MNI) – The German Finance Ministry over the weekend said
federal net new borrowing numbers reported by German weekly Der Spiegel
are “wrong.”

The magazine reported that federal net new borrowing will fall to
E60 billion next year, to E47 billion in 2012, to E36 billion in 2013
and to E29 billion in 2014.

German Finance Minister Wolfgang Schauble said Wednesday that
federal net new borrowing this year will likely amount to “just above
E65 billion,” markedly below the E80.2 billion foreseen in the 2010
budget.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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