Germany’s Fin Min Confirms Public Finances In Balance In 2012

Author: Market News International | Category: News

BERLIN (MNI) – Germany’s public finances will be in balance this
year, a Finance Ministry spokeswoman told MNI on Monday, confirming a
report by the weekly Der Spiegel.

Previously, the ministry had forecast a public deficit of 0.5% of
GDP. The ministry’s projection for total public debt this year has been
cut to 81.5% of GDP from 83.5%, the spokeswoman acknowledged.

Federal net new borrowing this year is now expected by the ministry
to amount to some E25 billion, down from E28.1 billion projected in the
second supplementary budget for 2012, she said.

–Berlin bureau: +49-30-22 62 05 80; email:

[TOPICS: M$G$$$,M$X$$$,MFG$$$,MFX$$$,MGX$$$]