The walk from the revised draft budget for next year shows reported the "Sueddeutsche Zeitung". German Finance Minister Peer Steinbrueck justifies the higher net borrowing with the current global financial crisis, the economic growth in Germany have stopped. The consequences for the federal government had reduced tax revenue and higher expenses, for example through the current economic program adopted by the government. Steinbrueck has repeatedly stressed he would not be against the negative effects of the crisis on the federal budget saving. Rather, he was prepared to temporarily higher deficit to accept.
Even the medium term, the federal debt continue to absorb. For 2012 is still a net borrowing of ten billion scheduled, said the newspaper report. This would allow German Chancellor Angela Merkel its goal until 2013 and the first time since four decades submit a balanced budget, not more.
Originally, the federal government already for 2011 a debt-free budget target. Because of the financial crisis was the timing of Chancellor Merkel redefined.
Even the medium term, the federal debt continue to absorb. For 2012 is still a net borrowing of ten billion scheduled, said the newspaper report. This would allow German Chancellor Angela Merkel its goal until 2013 and the first time since four decades submit a balanced budget, not more.
Originally, the federal government already for 2011 a debt-free budget target. Because of the financial crisis was the timing of Chancellor Merkel redefined.
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