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Image header Agence Europe
Europe Daily Bulletin No. 8496
Contents Publication in full By article 12 / 32
GENERAL NEWS / (eu) eu/stability pact

Berlin forecasts state deficit of 3.5% in 2003

Brussels, 02/07/2003 (Agence Europe) - Given the "considerable additional costs" caused by the "stagnation of the economy and sharp rises in unemployment", the German state deficit will reach "around" 3.5% of GDP this year, admitted the German Finance Minister for the first time on Wednesday. He had previously confined himself to indicating that the state deficit, which reached 3.6% in 2002, would exceed the 3% threshold laid down in the Stability and Growth Pact again this year. The...

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