As per reports emanating from the Der Spiegel weekly, sources from Germany’s Ministry of Finance have said that they expect a surplus budget to the tune of 5 billion euros this year. This surplus can be mainly attributed to higher than expected tax revenues.
Schaeuble had previously claimed that Germany, Europe’s second biggest economy after France, will have a surplus budget for the second consecutive year.
When contacted for comments, a spokesman for Germany’s finance ministry declined to comment on the report but has deftly pointed to the ministry’s monthly report, which clearly goes to show that Germany has received a 8.6% higher tax revenue from its July estimate alone.
A strong labour market, a robust economy along with a higher than expected income from the auction proceeds of mobile phone frequencies have further boosted Germany’s economic scenario.
If the government does not spend any surplus, it has to pay off billions of euros in old debt. However, some officials in German states along with a few politicians have said that some more funds will be needed in order to accommodate asylum seekers whose numbers are expected to quadruple to a whopping 800,000.
Source(s): http://www.reuters.com/article/2015/08/22/us-germany-budget-idUSKCN0QR0C520150822
Schaeuble had previously claimed that Germany, Europe’s second biggest economy after France, will have a surplus budget for the second consecutive year.
When contacted for comments, a spokesman for Germany’s finance ministry declined to comment on the report but has deftly pointed to the ministry’s monthly report, which clearly goes to show that Germany has received a 8.6% higher tax revenue from its July estimate alone.
A strong labour market, a robust economy along with a higher than expected income from the auction proceeds of mobile phone frequencies have further boosted Germany’s economic scenario.
If the government does not spend any surplus, it has to pay off billions of euros in old debt. However, some officials in German states along with a few politicians have said that some more funds will be needed in order to accommodate asylum seekers whose numbers are expected to quadruple to a whopping 800,000.
Source(s): http://www.reuters.com/article/2015/08/22/us-germany-budget-idUSKCN0QR0C520150822