World Economy

German Surplus Highest in 25 Years

German Surplus Highest in 25 YearsGerman Surplus Highest in 25 Years

Germany’s statistics office says the country last year achieved its highest budget surplus since reunification a quarter-century ago, AP reported. The Federal Statistical Office said Tuesday that federal, state and local governments last year accumulated a surplus totaling €19.4 billion ($21.5 billion)—up from €8.9 billion the previous year. That beat the previous record of some €18.2 billion from 2000. Last year’s surplus amounted to 0.6% of gross domestic product, double the previous year’s 0.3%. The German economy, Europe’s biggest, grew by 1.7% last year and is expected to repeat that performance this year.