German federal budget deficit soars
Brakes on energy prices have been driving government expenditure, official data shows
© Getty Images / dorioconnell
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 reporting period, while expenditure was €959.3 billion. The latter spiked sharply since last year, by 7.7%, largely due to the...










