AIRLINK 75.30 Increased By ▲ 0.45 (0.6%)
BOP 4.98 No Change ▼ 0.00 (0%)
CNERGY 4.52 Increased By ▲ 0.03 (0.67%)
DFML 42.08 Increased By ▲ 2.08 (5.2%)
DGKC 87.20 Increased By ▲ 0.85 (0.98%)
FCCL 21.60 Increased By ▲ 0.24 (1.12%)
FFBL 33.85 No Change ▼ 0.00 (0%)
FFL 9.83 Increased By ▲ 0.11 (1.13%)
GGL 10.58 Increased By ▲ 0.13 (1.24%)
HBL 114.39 Increased By ▲ 1.65 (1.46%)
HUBC 139.30 Increased By ▲ 1.86 (1.35%)
HUMNL 11.97 Increased By ▲ 0.55 (4.82%)
KEL 5.22 Decreased By ▼ -0.06 (-1.14%)
KOSM 4.73 Increased By ▲ 0.10 (2.16%)
MLCF 38.09 Increased By ▲ 0.29 (0.77%)
OGDC 139.90 Increased By ▲ 0.40 (0.29%)
PAEL 26.20 Increased By ▲ 0.59 (2.3%)
PIAA 21.92 Increased By ▲ 1.24 (6%)
PIBTL 6.86 Increased By ▲ 0.06 (0.88%)
PPL 124.12 Increased By ▲ 1.92 (1.57%)
PRL 27.08 Increased By ▲ 0.50 (1.88%)
PTC 14.05 No Change ▼ 0.00 (0%)
SEARL 59.19 Increased By ▲ 0.21 (0.36%)
SNGP 68.90 Decreased By ▼ -0.05 (-0.07%)
SSGC 10.38 Increased By ▲ 0.08 (0.78%)
TELE 8.46 Increased By ▲ 0.08 (0.95%)
TPLP 11.28 Increased By ▲ 0.22 (1.99%)
TRG 64.40 Increased By ▲ 0.21 (0.33%)
UNITY 26.60 Increased By ▲ 0.05 (0.19%)
WTL 1.49 Increased By ▲ 0.04 (2.76%)
BR100 7,912 Increased By 74.6 (0.95%)
BR30 25,722 Increased By 270 (1.06%)
KSE100 75,644 Increased By 529.9 (0.71%)
KSE30 24,301 Increased By 186.7 (0.77%)

imageBERLIN: Germany posted a budget surplus of 16.1 billion euros in the first half of 2014, highlighting the strength of the country's finances at a time when Berlin faces pressure to loosen the fiscal reins and spend more to boost flagging growth in Europe.

The data from the Federal Statistics Office showed that the federal government posted a surplus of 4.0 billion euros in the first six months of the year, the first time it has not registered a deficit in the period since 1991.

The overall surplus - grouping federal, state and local governments as well as the social security system - amounted to 1.1 percent of gross domestic product (GDP).

That puts Germany on track to post its third straight budget surplus in 2014.

Last year its surplus represented 0.3 percent of GDP, while in 2012 it was 0.1 percent.

The figures could increase pressure on Germany to do more to boost growth in Europe.

European Central Bank President Mario Draghi suggested in a speech last month that governments could play a bigger role in stimulating growth in Europe.

Germany's partners France and Italy have also been pushing Chancellor Angela Merkel to do more for growth, for example by cutting taxes and bolstering weak public investment spending.

Copyright Reuters, 2014

Comments

Comments are closed.