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Denmark plans 2012 deficit higher than 2011 -budget
August 23, 2011 / 7:40 PM / 6 years ago

Denmark plans 2012 deficit higher than 2011 -budget

COPENHAGEN, Aug 23 (Reuters) - Denmark will propose on Wednesday a 2012 budget with a public sector deficit equal to 4.6 percent of GDP, growing from 2011, a budget document seen by Reuters showed on Tuesday.

The centre-right government’s budget proposal puts the public sector deficit next year at 84.6 billion Danish crowns ($16.3 billion), up from an estimated deficit of 68.2 billion crowns for 2011 and up from May forecasts, the document showed.

The general government deficit-to-GDP ratio was seen growing next year from a revised projection of 3.8 percent for this year, which was down from an estimate of 4.1 percent given in May.

The budget was scheduled to be published on Wedneday at 10 a.m. local time (0800 GMT) and presented by Finance Minister Claus Hjort Frederiksen at a news conference an hour later.

The 2012 budget plan followed a proposal from the government on Tuesday of a 10.8 billion crowns stimulus package for 2011-13 to address worries over international economic uncertainty and a sputtering domestic real estate market. ($1 = 5.177 Danish Crowns) (Reporting by John Acher and Erik Matzen; Editing by Stephen Nisbet)

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