BERLIN, Jan 25 (Reuters) - Germany's new net borrowing in 2009 will rise to 50 billion euros, a parliamentary leader in Chancellor Angela Merkel's Christian Democrats said on Sunday.
'Yes, that's true,' Norbert Roettgen said on ARD television when asked by host Anne Will if new borrowing would rise to 50 billion euros even though the government will present a budget with a 36.8 billion euro new borrowing requirement on Tuesday.
'We're in an emergency situation,' said Roettgen, who later mentioned the figure could be as high as 56 billion euros.
'The worst thing to do now would to try to save money. We need to invest wisely but not squander money away. We want to try to help stabilise the situation in the crisis.'
The Finance Ministry said earlier Merkel's cabinet will approve a doubling in new net 2009 borrowing to 36.8 billion euros on Tuesday due to the economic crisis, but added the total will rise further.
A Finance Ministry spokeswoman said the new borrowing figure of 36.8 billion does not include an additional amount of 21 billion euros earmarked for a government stimulus package over the next two years to battle the sharp economic downturn.
(Reporting by Erik Kirschbaum; Editing by Phil Berlowitz) Keywords: GERMANY BUDGET/ESTIMATE (Reuters messaging: erik.kirschbaum.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Yes, that's true,' Norbert Roettgen said on ARD television when asked by host Anne Will if new borrowing would rise to 50 billion euros even though the government will present a budget with a 36.8 billion euro new borrowing requirement on Tuesday.
'We're in an emergency situation,' said Roettgen, who later mentioned the figure could be as high as 56 billion euros.
'The worst thing to do now would to try to save money. We need to invest wisely but not squander money away. We want to try to help stabilise the situation in the crisis.'
The Finance Ministry said earlier Merkel's cabinet will approve a doubling in new net 2009 borrowing to 36.8 billion euros on Tuesday due to the economic crisis, but added the total will rise further.
A Finance Ministry spokeswoman said the new borrowing figure of 36.8 billion does not include an additional amount of 21 billion euros earmarked for a government stimulus package over the next two years to battle the sharp economic downturn.
(Reporting by Erik Kirschbaum; Editing by Phil Berlowitz) Keywords: GERMANY BUDGET/ESTIMATE (Reuters messaging: erik.kirschbaum.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.