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Thursday 14 Jan 2016 - 14:12 Makkah mean time-4-4-1437
Berlin, (IINA) - Germany’s Ministry of Finance stated on Wednesday that the country achieved a budget surplus of $13.1 billion in 2015, noting that the money will be spent on the country's migrant influx, DPA reported.
The surplus is attributable to economic growth and strong tax revenues and is nearly double as high as the predicted figure in November, the ministry said.
Finance Minister Wolfgang Schaeuble plans to use the surplus to help deal with the throngs of migrants reaching Germany. Around 1.1 million refugees arrived in Germany in 2015, and 800,000 new arrivals are predicted in 2016.
"We will urgently need this surplus to finance the extra costs associated with accommodating and integrating refugees", Schaeuble said. "If possible, we would also like to get through the current year without incurring fresh debt".
Germany balanced its budget for the first time in more than 40 years in 2014, meaning the country could achieve its third so-called "Schwarze Null" - German for balanced budget - in 2016.
Aside from the surplus, the German government also plans to devote $8.3 billion of public funds to the migrant influx in 2016. Some $3.6 billion will go towards its own costs while $4.7 billion will be divided among the country's 16 federal states.
AG/IINA
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