- Stock Markets on Monday: FII selling, US market corrections remain a pain point for domestic equities; Anil Singhvi gives trigge
- Even as US markets fell, Nasdaq gets into deeper correction; sees 10% drop from November highs and worst week since 2020
- ICICI Bank Q3FY22 net profit rises 19% to Rs 6,536 cr
- Budget 2022 Expectations: USD14 bn warehousing industry ready with its wishlist ahead of budget
- Mutual Fund in 2021: Equity outperforms Fixed Deposit, gold loses sheen while debt schemes least favoured by millennials
German federal budget surplus could reach 14 billion euros: magazine
Germany could post a budget surplus of 14 billion euros in 2017, a magazine reported Saturday, providing more negotiating room for Chancellor Angela Merkel`s conservative bloc as it tries to forge a new coalition with the Free Democrats and Greens.
Solid economic growth and growing tax revenues fuelled the new projection, Der Spiegel reported.
The Finance Ministry had previously projected a flat budget, although economic institutes last month already forecast record overall government budget surpluses - which also include state governments - for coming years.
The new projection is good news for Merkel`s conservatives, the pro-business Free Democrats and the environmental Greens, whose combined proposals would add up to some 100 billion euros in new spending over the next four years.
The three groups resigned themselves to further talks next week after making little headway on immigration and climate policy during 11 hours of talks on Thursday.
Top officials from all parties traded barbs in a series of media interviews, but Manfred Weber, a senior member of the Bavarian conservative CSU, on Friday said his party still aimed to reach agreement by the end of the year.
No comment was immediately available from the Finance Ministry, which is due to publish its next tax revenue projections in mid-November.
The surplus would allow the government to cover 7 billion in projected costs associated with a landmark nuclear waste deal and 6.7 billion euros in costs for migrants without dipping into a 20-billion-euro reserve account set up during the height of the migrant crisis in 2015.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.