Germany Posts Budget Surplus For Year's First Half

BERLIN (AP) â¿¿ Official data show that Germany had a budget surplus of 0.6 percent of GDP in this year's first half as rising tax income boosted government finances.

The Federal Statistical Office said Friday that Germany, Europe's biggest economy, ran a surplus of 8.5 billion euros ($11.3 billion) in the January-June period. That's a slightly better performance than in the first half of 2012, when Germany posted its first six-month surplus in over three years.

The government's tax take totaled 321.4 billion euros, up 3.8 percent on the previous year as low unemployment helped push up income tax payments.

For the whole of last year, Germany had a surplus of 0.2 percent of GDP. That contrasts with deficits well above the official EU limit of 3 percent in several other eurozone countries.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Opinion

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Amazon's Assault on Grocery Stores Will Have a Profound Impact on Many

Amazon's Assault on Grocery Stores Will Have a Profound Impact on Many

It's Dumb to Think There Aren't Already Monopolies in Big Tech

It's Dumb to Think There Aren't Already Monopolies in Big Tech

Google's EU Battles Are Hardly a Reason to Panic

Google's EU Battles Are Hardly a Reason to Panic