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GERMANY
RTR2QX 
July 02, 2003 
German Bundesbank President Ernst Welteke is welcomed by German
Chancellor Gerhard Schroeder (R) before... 
Berlin, Germany - FDR 
GERMAN BUNDESBANK PRESIDENT WELTEKE IS WELCOMED BY GERMAN CHANCELLOR
SCHROEDER IN BERLIN. 
German Bundesbank President Ernst Welteke is welcomed by German
Chancellor Gerhard Schroeder (R) before a cabinet meeting in Berlin
July 2, 2003. Germany's cabinet formally adopted on Wednesday its draft
2004 budget and endorsed plans for extra tax cuts next year, government
sources said, leaving a question mark over how much Berlin will need to
borrow. The budget foresees new borrowing of 23.8 billion euros to plug
a gap between projected spending and revenues but the tax cuts will
cost the government around seven billion euros extra and it is not sure
how they will be financed. REUTERS/Michael Dalder

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