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Petroleum refinery: Outlook significantly deteriorated
Photo: Patrick Pleul / dpa
Federal and state tax revenues fell for the first time this year.
In August 2022, they totaled 54.21 billion euros, 2.6 percent below the level of the same period last year, according to the monthly report of the Federal Ministry of Finance, which will be published on Thursday.
"Both wage tax and sales tax showed only slight increases in revenue in August." In July there was still a mini plus of 0.3 percent overall, before that there were some very significant increases.
This is reflected in the balance sheet for the first eight months.
During this period, federal and state tax revenues climbed 12.8 percent to 522.26 billion euros.
"This was partly due to the weak basis for comparison in 2021, particularly in the first half of the year, as a result of the economic impact of the corona pandemic," the report says.
The economy in Germany was still relatively robust in the first half of the year despite the Russian attack on Ukraine.
"However, the outlook for the second half of 2022 has deteriorated significantly in view of the almost complete suspension of gas supplies from Russia and the extraordinarily high energy prices," said the ministry.
That is why the traffic light coalition decided on a third relief package worth 65 billion euros.
mike/Reuters
