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Germany Set To Eliminate Borrowing by 2015

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zentrader.ca / By Mike Ber / March 11, 2013

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There are reports that German Government is looking significantly to decrease borrowing in 2015. The Government aims to cut new borrowing to just 6.4 billion Euros in 2014, and eliminate borrowing in 2015 completely, a finance ministry official said on Monday.

The figures must be formerly approved by Chancellor Angela Merkel’s cabinet on Wednesday. Germany plans to have a budget surplus of 5.1 billion Euros in 2016 and 9.3 billion Euros in 2017.

The latest report shows just how strong the German finances are, while most of the European economies struggle.

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March 12th, 2013 | Tags: , , , | Category: Uncategorized | 20 comments