The German Finance Ministry is forecasting a zero deficit for 2012 as the year winds down, thanks to vigorous tax revenues, a government report obtained by dpa showed Sunday. The data suggests that total income at all levels of government will cover expenses for the first time since 2007, despite the crisis afflicting other parts of the eurozone. Just months ago, Finance Minister Wolfgang Schaeuble had forecast net public borrowing of 0.5 per cent of gross domestic product (GDP), allowing Germany to meet the criteria of the Maastricht growth and stability pact. The paper said net federal borrowing of 25 billion euros (32 billion dollars) would be 7 billion euros less than earlier forecast. That is balanced out by big surpluses in other parts of the system, especially at semi-autonomous social-welfare insurers.
