German parliament approves 2010 budget

BERLIN - German lawmakers have approved a 2010 budget that includes post-World War II record levels of new borrowing.

The lower house of parliament voted 313-256 Friday to approve Finance Minister Wolfgang Schaeuble's budget.

It calls for spending of euro319.5 billion ($436 billion) - about euro16 billion higher than last year.

New borrowing is pegged at euro80.2 billion. That is about twice the existing high of some euro40 billion, which dates back to 1996.

The government is trying to balance stimulating the economy, Europe's biggest, with consolidating public finances.

Germany's budget deficit came in at 3.3 percent last year, exceeding the 3 percent maximum stipulated by European Union rules. It is expected to grow this year.

Upcoming Events