EU raises doubts about German forecasts

18th February 2004, Comments 0 comments

18 February 2004 , BRUSSELS - The European Commission on Wednesday voiced doubts over Germany's 2007 budgetary figures, saying many of the forecasts for growth, spending and tax revenues were overly upbeat. The Commission - the executive arm of the European Union - also warned that Berlin's budget deficit risked over-shooting the stability pact ceiling of 3 percent of Gross Domestic Product (GDP) in 2005, the fourth consecutive year that Germany has run foul of eurozone rules.

18 February 2004

BRUSSELS - The European Commission on Wednesday voiced doubts over Germany's 2007 budgetary figures, saying many of the forecasts for growth, spending and tax revenues were overly upbeat.

The Commission - the executive arm of the European Union - also warned that Berlin's budget deficit risked over-shooting the stability pact ceiling of 3 percent of Gross Domestic Product (GDP) in 2005, the fourth consecutive year that Germany has run foul of eurozone rules.

 

DPA
Subject: German news

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