Germany raises its head and improves its forecasts for 2011. According to the latest report from the Ministry of Finance, the country will reach a deficit-GDP ratio of 1,5% by the end of the year and in 2014 it will return to a balanced budget.
Previous estimates spoke of a deficit below 2,5% this year and a balance impossible to achieve before 2015. In 2010 Berlin had recorded a deficit of 3,3%. As for public debt, Germany estimates a reduction of 3% by 2011, to 80% of GDP, and a further decrease to 71% in 2015.
Finance Minister Wolfgang Schauble also reiterated the country's growth objectives in an interview with a national radio station: no recession, GDP growth should reach 3% by the end of the year.
