Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

German 2012 borrowing lower than expected

Send a link to a friend

[January 15, 2013]  BERLIN (AP) -- Germany's Finance Ministry says the country's new borrowing in 2012 was lower than expected thanks to a stable economy and low unemployment.

It said Tuesday the government borrowed euro22.5 billion last year, about euro5.6 billion less than forecast in the revised November budget.

The ministry added that social spending was lower and tax revenues rose, although the economy showed signs of weakening in the fourth quarter. Germany also spent about euro4 billion less to service its debt as investors -- seeking a safe haven from the eurozone crisis -- accepted record-low interest rates.

Germany aims at balancing its budget by 2016 at the latest.

Germany's new borrowing totaled euro17.3 in 2011. Last year's borrowing was higher again because it included about euro10 billion in capital payments for European financial institutions.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Recent articles

Back to top


News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor