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Germany records €18.5bn surplus
By EUobserver
German public finances recorded a budgetary surplus of €18.5 billion in the first semester, according to figures published on Wednesday by the statistical office. "The budgets of central government, state government, local government and social security funds continued to benefit from both a positive development of employment and economy and moderate spending policies," the Statistisches Bundesamt said. General revenues reached €692.9 billion, a 4.2-percent increase year on year.