January 12, 2018 / 12:11 PM / a year ago

Germany posts fourth year of no new net borrowing - officials

BERLIN, Jan 12 (Reuters) - Germany’s federal government posted a budget surplus of 5.3 billion euros last year, senior government sources said on Friday, adding the next government would have 45 billion euros’ worth of financial wiggle room in the legislative period to 2021.

It is the fourth consecutive year when Europe’s largest economy has not needed new net borrowing.

Officials said the surplus would be fed into a refugee reserve fund. More than a million migrants, many of them fleeing conflict in the Middle East, have arrived in Germany since mid-2015.

Germany’s economy grew 2.2 percent in size in 2017, its fastest rate in six years. (Reporting by Michelle Martin, writing by Thomas Escritt)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below