The German Finance Ministry plans to cut net borrowing next year, more deeply than projected in the government’s medium-term plan, Der Spiegel reported on Sunday citing government sources.
The borrowing will be reduced to EUR 6-8 billion in 2014 from EUR 17.1 billion planned for this year.
The economy contracted 0.6 percent in the fourth quarter, but is expected to escape recession as economic activity gathers strength.
by RTT Staff Writer
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