BERLIN - Germany's Federal Statistical Office says the country's deficit hit 3.5 per cent of Gross Domestic Product in the first half of 2010 amid continuing effects from the global economic and financial crisis.
The office said Tuesday that net borrowing in the first half came in at €42.8 billion (US$54.37 billion) _ more than double the €18.7 billion in the same period last year.
Germany is on pace to break European Union rules requiring a budget deficit be no more than 3 per cent of GDP.
Officials in July said the country expects this year's deficit to come in at 4.5 per cent of GDP but that it would be back under the 3 per cent mark by 2012.
