Merkel: Economic situation means German tax revenues could fall

FAN Editor
Budget debate in the Bundestag in Berlin
German Chancellor Angela Merkel speaks during the budget debate in the Bundestag, the lower house of parliament in Berlin, Germany September 11, 2019. REUTERS/Axel Schmidt

September 11, 2019

BERLIN (Reuters) – Chancellor Angela Merkel said on Wednesday that the current economic situation in Germany meant tax revenues could come in lower than expected.

Europe’s largest economy contracted by 0.1% quarter-on-quarter in the April-June period and some weak data since then has fueled concerns that the economy could slip into recession in the July-September period. Economists generally define a technical recession as at least two consecutive quarters of contraction.

(Reporting by Michelle Martin and Tassilo Hummel; Editing by Paul Carrel)

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