Germany

German Budget Surplus Increases in First Half of the Year

0.6 percent of GDP

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Official figures show Germany's budget surplus rose to 0.6% of gross domestic product (GDP) in the first half of the year, boosted by higher tax income.

The government pulled in 321.4bn euros in taxes, 3.8% more than a year ago thanks to its steady employment rate.

The German Federal Statistical Office, Destatis, said the surplus was 8.5bn euros (£7.3bn; $11.3bn) in the period between January and June.