(ANSA-AFP) - BERLIN, 10 SET - Germany will see a massive drop
in tax revenue this year and next due to the impact of the
coronavirus and won't return to pre-pandemic federal intake
until 2023, Finance Minister Olaf Scholz said Thursday. Scholz
told reporters that Germany, which often sees itself as the
eurozone's star pupil on fiscal discipline, would be forced to
take on new debt again next year before returning to the path of
balanced budgets the following year. Europe's top economy will
take in 275 billion euros ($327 billion) in federal tax revenues
in 2020, down from 329 billion euros last year, Scholz said.
That amounts to nearly 54 billion euros less tax revenue than in
2019, and the shortfall will total 82 billion euros when taking
combined federal, state and local tax income into account. In
2021, the federal government expects to collect 34 billion euros
less than before the pandemic, and 15 billion euros less in
2022. (ANSA-AFP).
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