By Maria Martinez
BERLIN (Reuters) -Germany’s council of tax experts expects 81.2 billion euros ($90.94 billion) less in tax revenues for the German state as a whole in the 2025-2029 period compared with the October forecast, updated projections showed on Thursday.
For the federal government alone it expects 33.3 billion euros less in tax revenues in that five-year period, according to the estimates.
For 2025, the federal government is expected to receive 0.6 billion euros less in revenues, while the states are expected getting 1.1 billion euros more and municipalities 3.5 billion euros less, compared with the previous forecasts.
“The economy is still in difficult waters,” German Finance Minister Lars Klingbeil said, explaining the lower estimates.
Klingbeil expects a slight relief from 2027 onwards.
($1 = 0.8929 euros)
(Reporting by Maria Martinez, editing by Kirsti Knolle)
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