BERLIN (MNI) – German tax revenue growth slowed further in October
according to the Finance Ministry’s monthly report released Wednesday.
Total tax revenues (excluding local taxes) in October were 2.5%
higher than a year earlier after 4.2% annual rise in September.
Revenues for January through October were 5.4% higher on the year. For
the full year, the government’s forecast is for tax revenue growth of
5.0%.
Annual growth in federal tax revenue alone slowed to 2.6% in
October from 3.4% in September. For the first ten months of the year,
the annual increase was 4.3%. For the full year, the government has
forecast a 3.3% increase.
Federal revenue – tax intake plus other income – was up 3.1% on the
year in the January-October period, while expenditures rose 3.0%.
In the economic section of its report, the ministry said it
expected a “temporary growth dent” in the winter half-year.
“The noticeable slowing of global growth, especially the economic
weakness in some countries of the Eurozone, is increasingly dampening
economic developments in Germany,” the ministry observed. Inflation will
likely remain moderate, it predicted.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com
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