Minister: Germany close to balanced budget in 2013 - 13 WTHR Indianapolis

Minister: Germany close to balanced budget in 2013

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BERLIN -

Germany says it will come close to balancing its budget next year as economic growth outpaces public spending.

Germany, Europe's biggest economy, has been working toward a target of fully balancing its budget in 2016. On Friday, Chancellor Angela Merkel said that "must be our essential aim, because we have this obligation toward our children and grandchildren."

Germany's finance minister, Wolfgang Schaeuble, indicated in a newspaper article released Saturday that the government is ahead of target. He said the federal government expects a "near-balanced budget" in 2013.

He said Germany's budget deficit will fall below 0.5 percent this year. Last year, it was 1 percent.

The country's healthy public finances have been helped by a robust economy that has produced increases in tax income.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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