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Germany sets a record for budget surplus

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Germany sets a record for budget surplus
August 27
09:00 2018

Since 1990, when Germany became unified, it has got the largest budget surplus in the first six months. The Federal Statistical Office Destatis has confirmed this data.

The positive balance of the total budget for the period from January to June has amounted to more than 48 billion euros, which is 18 billion more than in the same period last year. This is a fairly significant increase.

The statistical agency notes that a 2.9% surplus of GDP was due to the policy of moderate spending, business development and employment growth. Such favorable development helped the German economy become more efficient and show a record surplus.

It’s not the first time when Germany experiences the positive balance in the economy; this has happened for the fifth consecutive year. This means that the country effectively manages its resources and can afford to expand some budget items or start developing new programs.

Between April and June, the GDP growth totaled 0.5% compared to the first three months of the year.

Economists point out that the trade conflict between the US and Europe left absolutely no trace in the economy of the country and everything is going just as was planned. However, the situation can quickly change and deteriorate if the truce is violated or there is a necessity to look for new compromises with Washington.

 

The material was prepared with the participation of Anjela Chromova,
a leading analyst of the brokerage company CT Trade

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