Germany’s Finance Ministry says this year’s budget deficit is set to fall to 1.5 % of gross domestic product on the backdrop of solid economic growth.

The ministry added in a statement late Thursday that it aims at achieving an “almost balanced budget by 2014,” which would be faster than previously expected.

The overall debt burden of Europe’s biggest economy is set to dwindle from 83.2 % of GDP last year to 71 % by 2015.

It says Germany’s budget deficit is expected to fall from €80.5 billion ($114 billion) in 2010 to €41.5 billion this year or about 1.5 % of GDP — well below the 3 % deficit ceiling mandated by the eurozone.

It says “the positive economic development is allowing a swifter recovery of public finances than previously expected.”

Azeribaijan seeks stake in Greek gas company 

Azerbaijan’s state energy company SOCAR says it is interested in buying a stake in the Greek natural gas company DEPA.

SOCAR president Rovnaq Abdullayev said Friday he has held talks on a possible sale this week with his DEPA counterpart, but did not specify the size of the prospective stake in question.

Greek media have reported their government is planning to sell a 55 % stake in the company as the European Union nation struggles to stem its soaring national debt. The state currently controls a 65 % stake in DEPA, while the remainder belongs to refining company Hellenic Petroleum S.A.

Other potential suitors for a stake in DEPA include Russian state gas company Gazprom.

Azerbaijan currently delivers around 700 million cubic meters of natural gas to Greece.