Germany Balanced Budget in 2015

The Germany government says it has balanced its budget for the second consecutive year in 2015.

Chancellor Angela Merkel’s conservative party has made ending new borrowing a key plank of its economic policy. The government was able to do without new borrowing in 2014, a year earlier than planned, for the first time since 1969.

The Finance Ministry said Wednesday it recorded a surplus of 12.1 billion euros ($13.1 billion) last year, up from 5 billion euros in 2014. Spending totaled 299.3 billion euros, slightly below the previous year’s 301.9 billion euros.

Finance Minister Wolfgang Schaeuble says the surplus will be needed to finance spending on accommodating and integrating refugees. He added: “We want, if possible, to get by without new debt this year as well.”

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza