Germany Expects €33.3 Billion Less in Taxes on Weak Economy

Germany’s federal government will reap €33.3 billion ($37.3 billion) less in tax income in the five years through 2029, as the economy’s persistently sluggish performance saps revenue.

The tax take will be €600 million less than forecast this year, followed by a shortfall of €10.2 billion in 2026, according to updated estimates published Thursday in Berlin. The average annual decline compared to the previous estimates in October is about €7 billion over the five-year period, the finance ministry said in an emailed statement.