Record budget revenues spell good news for the German economy (Photo: svenwerk)

Germany stops accumulating fresh debt

The German government on Monday (12 January) confirmed media reports that the country for the first time since 1969 will not accumulate fresh debt - one year earlier than previously envisaged.

Record tax revenues of €278 billion, €10 billion higher than in 2013, low unemployment, coupled with near-zero interest rates on outstanding German national debt, meant that in 2014, the government broke even and did not need to raise extra money on the markets.

Initially, finance minister ...

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