German Economy Likely to Face Decline in Tax Revenues

German-EconomyThe Finance Ministry's monthly report for October, released this Monday, has been claiming that the German economy may in the fourth quarter face a notable decline in its growth, according to revelations by a recent report.

This is despite that the economy has probably developed in the third quarter, the report says. The growth forecast for this year had been revised by the government last week, when it was up to 0.8%. The reason was that the economy had realized a hike in its performance in the first half of the year.

Total tax revenues of the country increased by almost 4.2% from year to year. The same were realized at EUR 50.78 billion in September. Also, from January to September, the figures regarding the same were 5.6% up from EUR
403.39 billion.

But, during this period, the prediction for the year 2013 fell down by some 1%. As per the findings, the data is a clear hint that some euro area economy has seen weak economic developments on a wider scale.

Though, the report is concerning experts, it is being said by the ministry that currently, there is no risk of inflation. Also, pricing climate is being expected to remain all the same down the road.