FRANKFURT (MNI) – German public finances were in surplus by E8.3
billion in Maastricht terms, or 0.6% of GDP, in the first half of this
year after a deficit of 1.0% last year, the Federal Statistics Office
said Thursday.
The swing into the black came from a E11.6 billion surplus in the
social security system, which offset a E3.3 billion deficit for
federal, state and local governments combined.
At the federal level alone, resilient economic growth contributed
to a 2.9% rise in revenues to E588.0 billion, while public spending
increased 0.8% to E579.7 billion.
– Frankfurt bureau: +49 69 720 142; email: ccermak@mni-news.com –
[TOPICS: M$G$$$,M$X$$$,MAGDS$,MT$$$$,MGX$$$]
