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Business

Fiscal revenue in Germany expected to climb

Fiscal revenue in Germany this year could be 7-8 billion euros higher than previously estimated, according to a media report. But the trend is not expected to continue next year.

Citing assessors, the German daily Die Welt reported that income tax revenue in particular had grown because of the low unemployment rate and a rise in salaries.

"The prognosis will be adjusted upwards," the paper cited one tax assessor as saying.

The positive development this year already became apparent in the first nine months, with 416.4 billion euros ($574.92 billion) swelling the state coffers. That was 3.2 percent more revenue than in the same period in 2012.

The increase had been estimated in May at just 2.5 percent.

The paper, however, quoted the same tax assessor as saying that the prognosis for 2014 could be corrected slightly downwards. This was owing to the fact that growth was expected to slow down by a small degree.

tj/ipj (Reuters, AFP)