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The Federal Ministry of Finance in Berlin: Tax revenues are increasing
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Florian Gaertner / phototek / imago images
The federal and state tax revenues rose sharply in July as well.
They totaled around 60 billion euros, 12.5 percent more than in the same month last year, according to a monthly report from the Federal Ministry of Finance.
In the first seven months, revenues rose by 6.8 percent within a year to 407 billion euros.
Before the corona pandemic, in the same period in 2019, the value was 1.7 percent higher.
The economic upturn with the waning of the corona crisis should have a positive impact on the tax authorities.
According to the Ministry of Finance, the economy and the labor market are increasingly recovering from the consequences of the corona crisis.
"The corona pandemic in Germany and the world has not yet been overcome, but the economic recovery process picked up speed in the second quarter of 2021." The economy grew by 1.5 percent in the spring.
"The course for a sustainable and possibly even stronger economic upswing in the third quarter of 2021 seems to have already been set."
Meanwhile, the inflation rate in July was 3.8 percent, the highest it has been since 1993.
The Ministry of Finance justified this with special effects such as the reduction in VAT a year ago.
A return to more moderate values below the European Central Bank's target for price level stability of 2.0 percent is expected for 2022.
hba / Reuters
