Germany raises forecast for 2012 tax revenues

By Updated at 2012-05-10 20:59:37 +0000


BERLIN (AP) — Germany says it expects its tax income over the next few years to be slightly higher than previously predicted due to a healthy job market and rising personal incomes.

The Finance Ministry said Thursday that tax experts predicted a total revenues of €596.5 billion ($773.5 billion) this year for Germany's federal, state and municipal governments. That's about €4.5 billion more than what they predicted last November.

The forecast for 2013 rose nearly €5 billion to €618.1 billion and predictions for the following three years also increased.

Germany, Europe's biggest economy, has remained healthy while many other countries in the 17-nation eurozone have struggled amid Europe's debt crisis. Germany's unemployment rate dropped to 7 percent last month, its best April showing in 20 years.