The German cabinet has approved the 2009 draft budget after weeks of wrangling between Finance Minister Peer Steinbrueck and the spending ministries.
The 2009 budget envisages spending of some 288 billion euros. That's 1.8 percent more than in 2008. Net new borrowing is set to come down by 1.4 billion euros to 10.5 billion in 2009. The German Finance Ministry said the government was still on track to balance the budget by 2011.
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