Tags: EU | Germany | Economy

Germany Raises Tax Income Forecast, Bolstering Budget Plans

Germany Raises Tax Income Forecast, Bolstering Budget Plans

Wednesday, 04 May 2016 09:58 AM EDT

BERLIN (AP) — Germany has raised its forecast for government tax income thanks to a healthy economy and low unemployment, bolstering its insistence that it can continue to avoid running up new debt.

Wednesday's estimate foresees a 691.2 billion euros ($798 billion) tax take this year, 5 billion euros more than forecast in November. The forecast runs through 2020 and foresees a total 42.4 billion euros in additional tax income over five years.

Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble have made maintaining a balanced budget a major plank of their political platform, even as Germany faces the costs of dealing with a large influx of migrants.

Schaeuble said the estimate "strengthens us in being able to manage the current major challenges without new debt."

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Europe
Germany has raised its forecast for government tax income thanks to a healthy economy and low unemployment, bolstering its insistence that it can continue to avoid running up new debt.Wednesday's estimate foresees a 691.2 billion euros ($798 billion) tax take this year, 5...
EU,Germany,Economy
125
2016-58-04
Wednesday, 04 May 2016 09:58 AM
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