Denmark’s Government Cuts Growth Forecasts, Sees Bigger Deficit

Denmark’s government lowered its forecasts for gross domestic product growth this year and the next and said the 2012 budget deficit will be larger than expected.

GDP will grow 1.1 percent this year compared with a previous forecast of 1.3 percent, the Copenhagen-based finance ministry said today on its website. The economy will grow 1.3 percent in 2012 compared with a previous forecast of 1.8 percent, the ministry said.

The budget deficit as a percentage of GDP will be 3.8 percent this year, unchanged from an August forecast, while the deficit will be 5.1 percent in 2012, up from the 4.6 percent the ministry predicted in August.

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