Tags: APFN | EU | Germany | Economy

German Government Sees Slightly Lower Tax Income

German Government Sees Slightly Lower Tax Income

Wednesday, 30 October 2019 11:39 AM EDT

BERLIN (AP) — The German government says its tax income next year is expected to fall 1.7 billion euros ($1.9 billion) short of previous forecasts as the outlook for Europe's biggest economy cools.

A twice-yearly assessment by tax experts released Wednesday by the Finance Ministry showed that federal, state and local authorities are expected to take in 816.4 billion euros next year, up from 796.4 billion this year but a bit less than forecast in May.

Tax income for 2021, 2022 and 2023 was forecast to keep rising, but come in a cumulative 8 billion euros lower than previously forecast.

German economic growth forecasts have been cut repeatedly this year. The economy is widely suspected to have contracted for the second consecutive quarter in the July-September period, putting it in a technical recession.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The German government says its tax income next year is expected to fall 1.7 billion euros ($1.9 billion) short of previous forecasts as the outlook for Europe's biggest economy cools.A twice-yearly assessment by tax experts released Wednesday by the Finance Ministry showed...
APFN,EU,Germany,Economy
132
2019-39-30
Wednesday, 30 October 2019 11:39 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved