Germany saw record $32 billion surplus, highest since reunification
In absolute terms, this was the highest surplus achieved by general government since German reunification.
When measured as a percentage of gross domestic product at current prices (3,132.7 billion euros), the Maastricht ratio of general government was +0.8%.
These are data based on the definitions of the European System of Accounts (ESA) 2010; they are used to monitor the budget situation in the EU Member States.
Net lending is calculated as the difference between revenue (1,411.4 billion euros) and expenditure (1,387.7 billion euros) of general government.
Revenue was higher than expenditure at all levels of general government. The largest surplus in 2016 was achieved by social insurance funds (8.2 billion euros).
In absolute terms, they improved their financial situation to a greater extent than any other government level.
They were closely followed by central government, which showed a surplus of 7.7 billion euros at the end of 2016, after a surplus of 10.0 billion euros in the previous year.
State government, too, continued the budget consolidation, achieving a surplus of 4.7 billion euros in 2016. Local government achieved net lending of 3.1 billion euros in 2016, which was slightly less than in the previous year.
Major factors on the revenue side were a large increase in income tax and property tax payments (+6.5%) and the good employment situation, leading to a considerable growth in social contributions (+4.6%).
The expenditure side was largely characterised by growth in expenditure on intermediate consumption (+8.7%) and a marked increase in expenditure on social benefits in kind (+6.2%). ■