German Gov’t Approves Plan For 0-borrowing Budget

Germany map SC German gov’t approves plan for 0 borrowing budget

BERLIN — German Chancellor Angela Merkel’s Cabinet has approved a draft budget plan that foresees the government getting by without new borrowing in 2015.

The draft passed Wednesday foresees a structurally balanced budget next year, with net new borrowing of €6.4 billion ($8.4 billion) — down from €17.1 billion in 2013. New borrowing is supposed to sink to zero in 2015 and in subsequent years.

Read More at OfficialWire .

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