Economic slowdown is hitting Germany's tax revenues - finance ministry

FILE PHOTO - Steel rolls are pictured at the plant of German steel company Salzgitter AG in Salzgitter, Lower Saxony on March 3, 2016. REUTERS/Fabian Bimmer - Copyright Fabian Bimmer(Reuters)

By Reuters

Published on 04/02/2019 - 12:34•Updated 25/04/2024 - 08:19

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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 (22 billion pounds) budget shortfall by 2023, as tax revenues are set to fall and public sector wages are on the rise, citing an internal government document.