Social security funds record deficit of 1.3 billion euros in the 1st half of 2016

By   /  October 14, 2016  /  Comments Off on Social security funds record deficit of 1.3 billion euros in the 1st half of 2016

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MIL OSI – Source: Destatis Statistisches Bundesamt – In English –

Headline: Social security funds record deficit of 1.3 billion euros in the 1st half of 2016

WIESBADEN – In the first six months of 2016, the social security funds recorded a cash deficit (as defined in public finance statistics) of 1.3 billion euros. The Federal Statistical Office (Destatis) also reports that the deficit was 3.4 billion euros lower than in the first half of 2015. The revenue of the social security funds totalled 293.4 billion euros in the first six months of 2016. This is an increase of 4.2% on the first half of 2015. Expenditure increased by 3.0% to 294.7 billion euros.

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