UPDATE 1-Germany to post budget deficit in 2009-FinMin

(Adds Steinbrueck)

BERLIN, Nov 19 (Reuters) - Germany will run up a budget deficit next year after balancing its books in 2008, according to calculations published by the Finance Ministry on Wednesday. A ministry draft of plans drawn up by federal, state and local governments showed the combined budget would show a deficit of 0.5 percent of gross domestic product (GDP) in 2009.

The German government has forecast Europe's largest economy will see price-adjusted growth of only 0.2 percent next year, after estimated expansion of some 1.7 percent in 2008. The German economy posted a deficit of 0.2 percent of GDP last year.

The figures forecast Germany's 16 states would post a shortfall of around 3.5 billion euros ($4.42 billion) in 2009 after accruing a surplus of some 4.5 billion euros this year.

Despite a worsening outlook, the draft also predicted that Germany's ratio of total outstanding debt in relation to nominal GDP growth would fall below 65 percent next year.

The German government had hoped to balance the federal budget by 2011, but government officials have acknowledged it will be difficult to reach that goal.

"Budget consolidation as a target remains a priority," Finance Minister Peer Steinbrueck told reporters, but he did not give a date by when the federal budget would be balanced.

Steinbrueck said he did not rule out the target of a balanced budget could be met in the next legislative period. Germany holds a general election next year.

(Reporting by Gernot Heller and Dave Graham)