BERLIN (MNI) – German tax revenue picked up markedly in June, the
Finance Ministry said in its monthly report released late Thursday.
Total tax revenue (excluding local taxes) rose 7.5% on the year.
Results for the first half of the year showed a 4.4% annual increase.
For the full year, the government’s forecast is for tax revenue growth
of 4.0%.
Federal tax revenue in June increased 8.9% on the year. In the
first half of the year, the annual increase was 2.8%. For the full year,
the government expects a 1.7% increase.
Federal revenue – tax receipts plus other income – was up 1.4% on
the year in the first half, while expenditures fell 1.5%.
In the economic section of its report, the ministry noted that
economic indicators suggest that domestic growth slowed somewhat in the
second quarter.
Pointing to easing commodity prices due to moderating global
economic growth, the ministry said “there is no inflation risk at the
moment for Germany from current price developments on global markets.”
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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