Germany aims to save 30 billion euros by 2013: media

5th June 2010, Comments 0 comments

Germany will aim to save some 30 billion euros by 2013, the national newspaper Bild said Saturday on the eve of the government's meeting to discuss stiff new measures for the next budget.

"The state's net borrowings should be cut by nearly 30 billion euros (36 billion dollars) from here to 2013," the newspaper said, quoting sources close to the government.

For 2011 alone, nearly 12 billion euros of savings are planned, while the deficit should reduce by 10 billion and five billion euros respectively in 2012 and 2013, Bild said.

Germany's finances, while in better shape than many in the eurozone, have been seriously affected by the global economic crisis and revival plans.

In 2009 its public deficit reached 3.3 percent of GDP and the public debt rose to 73.2 percent, well above the 60 percent mark set by Brussels.

The savings planned by the German government will be "more significant than strictly necessary," Finance Minister Wolfgang Schauble said earlier in the week.

© 2010 AFP

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