German tax revenues rise in April: official report

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BERLIN, May 22 (Xinhua) -- Germany's tax revenues received by the federal and regional levels of governments increased again in April, a monthly report by the ministry of finance showed on Tuesday.

German fiscal authorities recorded taxation income of 50.9 billion euros (60.1 billion U.S. dollars) in April, an increase of 3.9 percent over the same month last year.

The ministry of finance attributed the development to the lasting momentum of the German economy which in turn boosted receipts from corporate payroll taxes and personal income taxes.

The official report noted that the monthly findings marked the continuation of a longer-standing upward trend in spite of concerns that growth in Germany is beginning to slow. So far this year, tax revenues have risen by 4 percent on average between January and April.

Although the expansion rate of Germany's gross domestic product (GDP) halved in the first quarter (Q1) of 2018 to 0.3 percent after 0.6 percent in Q4 2017, this slump mainly owed to one-off-effects of an unusually severe flu season and widespread industrial action.

"The German economy remains in a phase of strong expansion," a statement by the ministry read. The officials expected to record further growth in the coming months due to the persistence of "favorable macro-economic framework conditions."

The federal government in Berlin is officially forecasting annual GDP growth of 2.3 percent in 2018, marking the highest level since 2011.

The Federal Statistical Office recently confirmed that the figure for net government receipts surged to a record total of 61.9 billion last year. As a consequence, the annual financial balance of public budgets in Germany has been consistently positive since 2014. Enditem

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