Germany’s budget surplus in 2015 is higher than previously expected

Market news

13 January 2016

Germany’s budget surplus in 2015 is higher than previously expected

The German Finance Ministry said on Wednesday that the country's budget surplus was €12.1 billion in 2015, up from the previous forecast of a €6.1 billion surplus. The surplus was driven by strong tax revenues and one-off effects.

German Finance Minister Wolfgang Schäuble said that he expects a balanced budget in 2016 if the domestic labour market will remain robust. He added that the surplus will be used to cover migration-related costs.

German Finance Ministry’s monthly report: the economy is expected to expand moderately, driven by private consumption

U.S.: Crude Oil Inventories, January 0.234 (forecast 2.6)

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