BERLIN (Reuters) – Germany’s federal and state governments’ tax revenues rose 6.9% in September compared with the same month last year, the finance ministry said on Tuesday.
The federal and state governments’ tax revenue reached a total of 86.2 billion euros ($93.54 billion) last month, according to the ministry’s monthly report.
This follows a 5.3% rise in tax revenues in August. Lacklustre economic growth has made for a very volatile tax take this year.
Tax revenue rose by 2.9% in January through September when compared with the same period last year, and reached 626 billion euros.
The German economy unexpectedly contracted 0.1% in the second quarter, showing the continued struggles of the euro zone’s biggest economy and spurring recession fears.
“Production and exports have seen growth at the moment, but the short-term economic outlook remains clouded, as can be seen in the business climate, for example,” said the report.
In its latest forecast, the German government expects the economy to contract by 0.2% this year, which is likely to make it for the second year running the only member of the Group of Seven major industrial democracies to post shrinking output.
For full-year 2024, analysts forecast tax revenue will increase to 863.68 billion euros, up 4.1% from the previous year, according to the report.
($1 = 0.9215 euros)
(Reporting by Christian Kraemer and Rene Wagner; Writing by Miranda Murray)
