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Business

German Budget in the Black for First Time Since 1990

For the first time since German reunification, Germany's budget is in the black, with a surplus of 200 million euros ($296 million).

Woman with her hand in a cash register filled with euros

Germany has seen a surplus only once since 1990

The federal government, states, municipalities and the social insurance system took in 200 million euros more than they spent in 2007, according to the Federal Statistical Office in Wiesbaden.

An economic boom and increased tax revenues have contributed to the surplus.

The statistics office said that Germany's gross domestic product had risen last year by 2.5 percent, compared to 2.9 percent in 2006.

Woman holding cell phone

The sale of cell phone licenses brought a surplus in 2000

Fulfilled Maastricht criteria

The year 2000 was the only other year since 1990 that the government achieved a surplus, but this was due to exceptional revenues from the sale of cell-phone licenses.

This is the second year that Germany has fulfilled the criteria of the Treaty on the European Union, or "Maastricht Treaty," which requires member countries to have annual budget deficits not exceeding more than 3 percent.

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