Germany cuts deficit to 1.0% of GDP in 2011
Frankfurt - AFP
Germany, Europe's biggest economy, brought down its public deficit to 1.0 percent of gross domestic output (GDP) in 2011 from 4.3 percent in 2010, final official data showed on Friday. In absolute terms, the deficit -- the gap between revenue and expenditure -- amounted to 25.3 billion euros ($33.8 billion) against total GDP of 2.57 trillion euros, the national statistics office Destatis said in a statement.
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