German budget surplus highest since 1990
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    Default German budget surplus highest since 1990

    Seems Germany is growing in strength since the UK announced its departure.

    Imagine a UK politician claiming the country was saving a surplus instead of borrowing to pay for services we can't afford, not to mention asset stripping the country whilst privatising public services.


    Germany's budget surplus hit a post-reunification high of nearly 24bn euros (20bn) in 2016 boosted by a higher tax take and increased employment.

    This is the third year running that German government revenue has outstripped expenditure.

    However, there was an increase in spending on housing and integrating refugees.

    Under budget law, some of the surplus money will go into a fund to support the refugees.

    Separately, official figures confirmed the economy grew by 1.9% last year, mainly because of higher spending by consumers and government.

    High employment

    The budget figures, published by Germany's Federal Statistical Office, showed that income was higher than spending in all areas of government - federal, state and local government, as well as social security.

    The office said the main factors improving revenues were the large increase in income tax and property tax payments as well as the "good employment situation", which led to a "considerable growth" in social contributions.

    In terms of expenditure, a big factor was increased spending by state and local governments on things such as accommodation for refugees, as well as payments to them for living expenses.

    Germany has taken in more than a million migrants over the past two years, mainly from Africa and the Middle East.

    Jobs fair for refugees and migrants in BerlinGetty Images
    This jobs fair in Berlin is an example of German efforts to integrate migrants
    The actual surplus figure of 23.7bn euros represents 0.8% of gross domestic product (GDP).

    The federal government's share of the surplus amounts to 7.7bn euros, all of which will be paid into a fund to support refugees.

    Chancellor Angela Merkel played down the new figures. "If you look at the federal level alone, the surplus is rather small," she said.

    She said the government would increase spending on defence, as well as on domestic security and social improvements.

    "At the same time, we don't want to take on new debt. So the room for manoeuvre is rather limited," she added.

    The GDP figures showed that the German economy grew by 0.4% in the final quarter of 2016, primarily because of strong domestic demand.

    As well as higher consumer spending, there was an increase in federal, state and local government expenditure.

    Germany's economic strength has traditionally been bolstered by exports.

    In the final quarter of last year, however "the development of foreign trade had a downward effect on growth", the Statistical Office said.

    While exports of goods and services rose by 3.3% from a year earlier, imports increased by 4.5%.

    Too strong

    Thursday's figures follow European Commission criticism of Germany's relative economic strength within the eurozone.

    On Wednesday the Commission said Germany's current account surplus - which measures the balance of goods, services and investments into and out of the country - was too big.

    It said that cutting that surplus would help the whole of the eurozone.

    It also said Germans were saving too much and not investing enough in both the private and public sector.

    The Commission acknowledged that steps had been taken to reverse that situation, but more could be done.

    To address the economic "imbalances" the Commission said: "Further policy action should aim at further strengthening investment, including by reforming the services sector and improving the efficiency of the tax system, as well as stimulating labour market activity of second earners, low-income earners and older workers to boost households' incomes and counter the effects of ageing."
    source: German budget surplus highest since 1990 - BBC News
    Ldoenn : 'we're hloding a referneudm to laeve the Eureopean union
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    Good stuff. They can spend it on bolstering their defenses forces and then having a third crack at it.
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    Quote Originally Posted by MarillionFan View Post
    Good stuff. They can spend it on bolstering their defenses forces and then blowing it for a third time
    ftfy

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    Quote Originally Posted by scooterscot View Post
    Seems Germany is growing in strength since the UK announced its departure. ...
    all the more strain on other EU countries, and thus the EU itself, if those countries are falling behind relative to Germany
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    Quote Originally Posted by shaunbhoy View Post
    ftfy
    Your not in the army anymore Shaunbhoy so I fear for our future
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    Quote Originally Posted by OwlHoot View Post
    all the more strain on other EU countries, and thus the EU itself, if those countries are falling behind relative to Germany
    exactly... if Germany was selling it's goods using the mark then they would be a whole lot less affordable. But the euro currency is great for Germany.

    Germany needs to start spending a bit of cash including on it's poor infrastructure.

    But this fits in with Germany's plan, they will effectively be running the EU soon, with an army by the looks of it. Got to give it to them for perseverance.

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    Quote Originally Posted by OwlHoot View Post
    all the more strain on other EU countries, and thus the EU itself, if those countries are falling behind relative to Germany
    A single statement that shows you how little the EU is understood by the UK.
    Ldoenn : 'we're hloding a referneudm to laeve the Eureopean union
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    Quote Originally Posted by woohoo View Post
    exactly... if Germany was selling it's goods using the mark then they would be a whole lot less affordable. But the euro currency is great for Germany.

    Germany needs to start spending a bit of cash including on it's poor infrastructure.

    But this fits in with Germany's plan, they will effectively be running the EU soon, with an army by the looks of it. Got to give it to them for perseverance.

    Well got to defend them a bit. Germans have complete hate towards any military , as in entire society. When war in syria was full blown and they sent navy- it was only for humane reasons, didn't kill anyone etc.

    So far I'm Ok with them as long as everyone is benefiting from their success too. Them being strong economically is actually enriching Poland now as their closest, and poorer, neighbour

    Add that they have Americans military bases, it wouldnt be easy for them to go rogue. Especially with 0 acceptance of society

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    What happens in General, stays in General.
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    Quote Originally Posted by OwlHoot View Post
    all the more strain on other EU countries, and thus the EU itself, if those countries are falling behind relative to Germany
    Hitting nail on the head time. Germany will need all that surplus (and a whole lot more) to bail out the failing EU nations, and by definition, the EU itself. Any collective is only as strong as its weakest member. Well done to Germany, but don't think about spending that surplus any time soon...
    His heart is in the right place - shame we can't say the same about his brain...

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