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Economic slowdown is hitting Germany’s tax revenues: finance ministry

Economic slowdown is hitting Germany's tax revenues: finance ministry© Reuters. An illustration picture shows euro coins

BERLIN (Reuters) – Germany’s economic slowdown is having an impact on tax revenues in Europe’s largest economy, a spokeswoman for the Finance Ministry said on Monday when asked about a report that Germany could face a budget shortfall in the coming years.

Newspaper Bild reported on Sunday that Germany could face a 25 billion euro ($29 billion) budget shortfall by 2023, as tax revenues are set to fall and public sector wages are on the rise, citing an internal government document.

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Source: Investing.com

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