German state budget deficit soars ...News

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German state budget deficit soars
Brakes on energy prices have been driving government expenditures, official data shows The German government budget deficit surged to €42.1 billion ($45.4 billion) in the first half of 2023 amid Berlin’s efforts to rein in inflation and energy prices, the Federal Statistical Office (Destatis) reported on Friday. According to preliminary data, the figure was €37.6 billion higher than in the first half of 2022, a nearly tenfold increase. When measured against the gross domestic product (GDP) at current prices, the deficit ratio was 2.1%. According to Destatis, government revenue amounted to €917.2 billion in the rep

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