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Germany posts record-breaking budget surplus
[DW] Germany ended 2019 with a budget surplus of €13.5 billion.
...the land mass occupying the space between the English Channel and the Urals, also known as Moslem Lebensraum... 's largest economy closed the year with a budget surplus. The 2019 surplus overtook a 2015 budget surplus of €12.1 billion. Added to that figure is an additional €5.5 billion from a fund earmarked for refugees that went unspent, making a total surplus of €19 billion. Larger-than-expected tax income and low interest rates were partly responsible for the surplus, the finance minister explained. Current negative interest rates also meant that Germany paid a relatively low €12 billion in interest on its debt in 2019. The state had also set aside a significant sum to be used in case of a hard Brexit, which was freed up after recent UK elections took that option off the table. The largest share has been allocated to a reserve for spending related to asylum-seekers in Germany, though it could ultimately be used for other projects. A special military defense budget will receive €500 million.
Posted by: trailing wife 2020-01-15 |
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