(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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