BERLIN (MNI) – German tax revenue remained strong in August
according to numbers released Thursday by the Finance Ministry in its
latest monthly report.
Total tax revenue (excluding local taxes) increased in August by
12.8% on the year. Results for the Jan-Aug period showed a 5.8% annual
increase. For the full year, the government’s forecast is for tax
revenue growth of 4.0%.
Federal tax revenue in August rose 10.5% on the year. In the first
eight months of the year, the annual increase was 4.6%. For the full
year, the government has forecast only a 1.7% increase.
Federal revenue – tax intake plus other income – was up 3.1% on the
year in the Jan-Aug period, while expenditures fell 0.7% on the year.
“The [increase in] tax revenue is in line with the rising economic
trend, which, however, is to weaken in the second half of the year
according to leading indicators,” the ministry remarked.
In the economic section of its report, the ministry predicted that
inflation in Germany will likely moderate over the coming months due to
sinking producer price pressures resulting from slowing global economic
growth.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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