EU revises up German 2018 budget surplus, next year's easing seen small

The European Union's statistics agency revised up Germany's budget sur...

BRUSSELS - The European Union’s statistics agency revised up Germany’s budget surplus for 2018, data released on Monday showed, following a trend that could signal Berlin’s plan to spend more next year may end up delivering less than expected.

Eurostat said Germany’s revenues last year exceeded expenses by 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. The upward revision of Germany’s budget surplus confirms the trend in surprise overshoots in data from Berlin. In 2017, the country’s surplus was raised to 1.2% of GDP from the 1.0% initially estimated.If this trend continues next year, Germany’s planned loosening of the purse strings may also result in being smaller than forecast, in a blow to those who are calling for more spending to tackle the economic slowdown of the euro zone.

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