Germany cuts planned borrowing for 2014
2013-03-13 13:01:12
German Chancellor Angela Merkel's cabinet on Wednesday approved the draft budget for 2014, lowering its net borrowing estimate to EUR 6.4 billion from EUR 17.1 billion planned for 2013.
The government aims to achieve a balanced budget in 2015 as it expects tax revenues to increase supported by a stable economy.
The budget draft showed that spending will be lowered to EUR 297 billion in 2014 from EUR 302 billion this year.