Germany’s budget deficit this year will be smaller than previously forecast because of higher tax revenue, according to a supplementary budget to be passed this week, Die Welt reported, citing coalition officials.
The federal government will have to finance a budget gap of 31 billion euros ($39 billion), compared with the 34.8 billion euros previously forecast, the newspaper said. Germany has to pass the supplementary budget to account for 8.7 billion euros in paid-in capital to the European Stability Mechanism, the euro area’s bailout fund.
To contact the reporter on this story: Patrick Donahue in Berlin at firstname.lastname@example.org
To contact the editor responsible for this story: James Hertling at email@example.com