GERMANY: Deputies in lower house of parliament, the Bundestag, pass the 2012 budget and agree to increase net borrowing to 26.1 billion euros from an original sum of 22 billion euros

Record ID: 327633

  • Title: GERMANY: Deputies in lower house of parliament, the Bundestag, pass the 2012 budget and agree to increase net borrowing to 26.1 billion euros from an original sum of 22 billion euros
  • Date: 26th November 2011
  • Summary: BERLIN, GERMANY (NOVEMBER 25, 2011) (REUTERS) VARIOUS EXTERIOR OF GERMAN LOWER HOUSE OF PARLIAMENT, THE BUNDESTAG VARIOUS OF DEPUTIES VOTING ON 2012 BUDGET VARIOUS OF GERMAN CHANCELLOR ANGELA MERKEL VOTING ON 2012 BUDGET GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE (LEFT) TALKING TO GERMAN ECONOMY MINISTER PHILIPP ROESLER MERKEL TALKING TO GERMAN HEALTH MINISTER DANIEL BAHR VARIOUS OF DEPUTIES CASTING VOTES
  • Embargoed: 11th December 2011 12:00
  • Keywords:
  • Location: Germany, Germany
  • Country: Germany
  • Topics: Economy,Politics
  • Reuters ID: LVA3ZTD07RU3RYTVLKW5VO8XWQBR
  • Story Text: Germany's lower house of parliament on Friday (November 25) passed the country's budget for 2012 which foresees an increase of net borrowing from 22 billion to 26.1 billion euros. Expenditure is to remain stable at around 306.2 billion euros.
    The country's Labour Ministry will have the largest budget of 126.5 billion euros. The Defence Ministry's budget will have 31.8 billion euros at its disposal.
    The budget debate and vote comes in the same week that Germany saw its worst debt sale since the launch of the euro in 1999.
    On Wednesday (November 23) commercial banks ended up buying just 3.64 billion euros of the 6 billion euros in bonds which Germany had on offer.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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