Germany's budget surplus hits record in H1

Source: Xinhua| 2017-08-25 20:03:58|Editor: Zhou Xin
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BERLIN, Aug. 25 (Xinhua) -- Germany's budget surplus hit a record of 18.3 billion euros (21.6 billion U.S. dollars) in the first half of 2017 thanks to its strong economy growth, German Federal Statistical Office (Destatis) announced Friday.

The surplus, which represents 1.1 percent of the country's entire budget, provide a boost for German Chancellor Angela Merkel in her campaign for the next month's election, German analysts commented.

According to provisional results of Destatis, the revenue of German general government rose by 29.6 billion euros (34.9 billion dollars) to 723.8 billion euros (854.3 billion dollars) in the first six months, up by 4.3 percent on the same period a year earlier.

Meanwhile, the government expenditure in the first half has also seen a 4.3-percent growth to stand at 705.4 billion euros (832.6 billion dollars), Destatis said.

However, other Western countries are critical of Germany's finances, saying it is hoarding money when it should be spending more on infrastructure and public projects to boost the global economy.

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