Bloomberg News

Schaeuble Says 2011 German New Borrowing Below Assumptions

October 20, 2011

Oct. 20 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said federal new borrowing this year will be “clearly” below previous assumptions, coming in at below 30 billion euros.

Speaking to reporters at the presentation of new governement economic forecasts in Berlin, Schaeuble said he may not be able to maintain the pace of reducing net credit amid slower economic growth next year.

To contact the editor responsible for this story: Brian Parkin at bparkin@bloomberg.net


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