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MENAFN - Saudi Press Agency - 24/11/2012

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(MENAFN - Saudi Press Agency) Germany's Parliament has passed the country's new budget, which foresees flat spending and slightly lower borrowing next year.

The majority of Chancellor Angela Merkel's center-right coalition lawmakers voted Friday for the 2013 budget, which sees spending at ?302 billion (390 billion) and includes new borrowing of ?17 billion.

For this year, Germany's government foresees borrowing of about ?28 billion, some ?10 billion of which is paid-in capital to the new rescue fund of the 17-country eurozone and an EU bank for investments, AP reported.

Merkel's government hopes robust growth, low unemployment and rock-bottom interest rates will lead to a balanced budget within a few years.

 






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