Advertisement

Strong economy puts Germany in surplus

Strong economy puts Germany in surplus
The better the economy does, the more cash the government has. Photo: DPA

Germany's public finances are back in the black for the first time since 2007, as the federal, state and social security budgets all reported surpluses in the billions for 2014.

Advertisement

The federal statistics office Destatis revealed on Tuesday that the total surplus had reached €6.4 billion, included of €2.3 billion in the federal government, €3 billion for social security and €1.6 billion for the states.

Only communities, the lowest level in Germany's administrative system, had a deficit, at around €700 million.

There is still some way to go before the surplus matches 2007 levels of €9 billion.

But 2014's figure is a huge improvement over 2013, which saw the public purse €7.2 billion in the red.

Overall income from taxes and social security contributions grew by 3.7 percent in 2014 compared with the previous year, to €1,245.9 billion.

While the statisticians' original prediction had been for a surplus of around €18 billion, they said that the difference was due to changes in their calculations.

SEE ALSO: Strong economy shrinks debt as share of GDP

More

Comments

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also