Angela Merkel receives double budget in June

Source: Bloomberg
German Chancellor's budget doubled in June following an increase in the federal tax revenue and a decrease in the expenses of servicing debt. The federal tax revenue climbed 10.9% in June, whereas spending fell 0.4%. The state tax revenue by-turn jumped 19.6%. Merkel set the objective to operate a near-balanced budget in the present year and give up new borrowing in the next year's budget.
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