Germany May Total Tax Revenue Growth Slows To +1.6% Y/Y; Press

–Govt Now Expects 2010 Total Public Deficit Of Only 4.25%; Press

BERLIN (MNI) – Germany’s total public tax revenue growth slowed to
+1.6% on the year in May, German business daily Handelsblatt reported
Monday citing Finance Ministry sources.

In April, total public tax revenue (ex-local taxes) had increased
by 4.4% y/y. In the January-April period, total tax revenue (ex-local)
was down 2.6% y/y, in line with the full-year forecast of -2.6%.

Given the favorable tax revenue development in April and May, the
total public deficit this year will likely amount only to around 4.25%
instead of around 5%, Handelsblatt citied government sources as saying.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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