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| Author: | Vesper, D. |
| Title: | Has the public debt blocked or promoted economic development in Germany |
| Journal: | Economic Bulletin
1994 : JUN, VOL. 31:6, p. 3-10 |
| Index terms: | GERMANY DEMOGRAPHY ECONOMICS |
| Language: | eng |
| Abstract: | Germany's public finances are in a precarious position. As always in a recession, the budget deficit has raised sharply. The situation has been exacerbated by the demands made on fiscal policy by the adjustment crisis in east Germany. Already a substantial volume of resources has been transferred from West to East. These transfers have largely been financed by borrowing. German public finances face further burdens from 1995 onwards as central government will have to service the debts incurred by the Treuhandanstalt and some of the outstanding debts of the east German housing sector. |
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