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Germany raises tax income outlook due to recovery

Germany raises tax income outlook due to recovery

The German government says its tax income is expected to come in (EURO)15.2 billion ($21.3 billion) higher than previously expected this year as the economy recovers.
The Finance Ministry said Thursday that a regular meeting of experts estimated this year's tax take at (EURO)525.5 billion _ up from the (EURO)510.3 billion they forecast in May. Last year's figure was (EURO)524 billion.
The German economy, Europe's biggest, has returned to unexpectedly strong growth this year and the government recently more than doubled its growth forecast for 2010.
The new tax outlook foresees income of (EURO)537.3 billion next year _ up from the previous prediction of (EURO)515 billion. That figure should rise to (EURO)563.2 billion in 2012, an improvement of (EURO)23.4 billion over the previous forecast.


Updated : 2021-04-13 07:26 GMT+08:00