BERLIN (MNI) – Due to strong tax revenue, Germany’s total public budget
will be balanced already in 2012, German weekly Der Spiegel reported Sunday
citing from finance ministry calculations for the government’s stability
council.
Previously, the ministry had forecast a total public budget deficit of 0.5%
of GDP for this year.
The ministry’s projection for total public debt in 2012 has been cut to
81.5% of GDP from 83.5%, Der Spiegel said.
Federal net new borrowing is now expected by the ministry to amount to some
E25 billion this year, down from the E28.1 billion earmarked in the second
supplementary budget for 2012, the magazine wrote.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com
–MNI Singapore Bureau; tel: +63 91-7888-6714; email: pday@mni-news.com
[TOPICS: M$E$$$,M$G$$$,M$X$$$,MFG$$$,MFX$$$,MGX$$$]
