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07 May 2001 16:28  ECOFIN: Germany not to increase 2001 net borrowing - Eichel


BRUSSELS (AFX) - Germany will not raise this year's forecast for 43 bln dm net borrowing, German finance minister Hans Eichel said. "There is a slowdown in growth, also felt in Germany and we will keep to our strict consolidation strategy," Eichel said during a break in the monthly Ecofin meeting. Germany foresees a 1.5 pct public deficit in 2001 and is aiming for a balanced budget by 2006, he said. Last month the European Commission cast doubts on Germany's ability to reach its goals and forecast a 1.7 pct deficit for 2001. Eichel declined to comment on this, saying it does not make sense to speculate over uncertain figures. "We will continue our discussions once the precise figures are known. It does not make sense to speculate or discuss before that," Eichel said.
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