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Germany Posts Record Budget Surplus For 2016

by Ulrika Lomas, Tax-News.com, Brussels

28 February 2017


Germany has posted its largest budget surplus since 1990, with its finances supported by strong tax revenue growth.

According to the German Federal Statistical Office, income tax and property tax receipts grew strongly last year, increasing 6.5 percent over the previous year, while high levels of employment led to a 4.6 percent increase in social security tax receipts.

The budget surplus was equal to 0.8 percent of German economic output.

"In absolute terms, this was the highest surplus achieved by [the] general government since German reunification" the Statistical Office said.

TAGS: tax | property tax | budget | social security | Germany

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