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Germany Says Will Achieve 0.5% Deficit Goal In 2012

Germany expects its structural budget deficit to attain the medium-term budget goal of 0.5 percent of gross domestic product this year, according to a report from the Finance Ministry.

The Cabinet Office on Wednesday approved an updated stability program which reaffirmed the government's forecast at less than 0.5 percent of GDP.

The stability program report says the balance will continue to improve in the coming years and the structural budget will be balanced from 2014.

Public debt, meanwhile, is expected to fall to 73 percent of GDP in 2016 from 82 percent of GDP this year.

by RTT Staff Writer

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