German tax shortfall; SGP breach forecast 2004, but lower growth f/c provides scope for better outlook
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SummaryNeither German tax experts nor Finance Minister Eichel expect to achieve SGP budget deficit target for 2004… · ….but more realistic (and lower) growth forecast leaves more scope for a pleasant surprise than for some time · Shift in political mood in favour of larger deficits and CDU opposition’s disarray on fiscal issues throws Eichel a life-line
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© Graham Bishop
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