Bloomberg News

German 2012 Deficit Will Be Smaller Than Forecast, Die Welt Says

June 11, 2012

Germany’s budget deficit this year will be smaller than previously forecast because of higher tax revenue, according to a supplementary budget to be passed this week, Die Welt reported, citing coalition officials.

The federal government will have to finance a budget gap of 31 billion euros ($39 billion), compared with the 34.8 billion euros previously forecast, the newspaper said. Germany has to pass the supplementary budget to account for 8.7 billion euros in paid-in capital to the European Stability Mechanism, the euro area’s bailout fund.

To contact the reporter on this story: Patrick Donahue in Berlin at pdonahue1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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