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German tax revenues up 2.6% in May, finance ministry says

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Germany's federal and state government tax revenues rose at a slower pace in May than in recent months, growing 2.6% from the same month last year, the finance ministry said on Friday.
In May, German tax revenues increased by 26% compared to the same month in the previous year, reaching 83.9 billion euros, according to the Finance Ministry. This significant rise was attributed to the absence of a one-off effect from the previous year, when a court ruling led to a 10 billion euro reduction in nuclear fuel taxes. The ministry noted that without this effect, the increase would have been 6.4%. Year-to-date, tax revenues have grown by 2.8% to 357.5 billion euros. The ministry also revised its full-year forecast, expecting a 1.9% increase in tax revenues to 848 billion euros, slightly down from the previously projected 2.3% growth.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/markets/german-tax-revenues-up-26-in-may-finance-ministry-says/ar-AA1H3mPg ]