The European Union's statistics agency revised upward Germany's budget...
FILE PHOTO: The financial district with Germany's Deutsche Bank and Commerzbank is pictured in Frankfurt, Germany, March 18, 2019. REUTERS/Ralph Orlowski
BRUSSELS, - The European Union’s statistics agency revised upward Germany’s budget surplus for 2018, data released on Monday showed, in a sign that Berlin’s plan for a limited easing next year may be smaller than expected. The data may not bode well for euro zone’s economic growth prospects, as the bloc is facing risks of a protracted slowdown, which many economists say could be countered only with a significant increase in governments’ spending - especially by Germany, the euro area’s largest economy.
Eurostat said Germany’s revenues last year exceeded expenses more than previously estimated allowing Berlin to post a budget surplus of 1.9% of its output, above the 1.7% that Eurostat had calculated in April.
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