German Tax Revenue May Exceed Estimate, Handelsblatt Says

Tax revenue in Germany will probably exceed government estimates, reducing the budget deficit this year by 8.8 billion euros ($11.7 billion), Handelsblatt said, citing calculations by the Kiel-based IfW economic institute.

Rising income and property-transfer taxes spurred by Germany’s strong economy are boosting government revenue, which probably makes Finance Minister Wolfgang Schaeuble’s deficit estimate released yesterday too high, the Dusseldorf-based newspaper reported.

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