Revenues in the first half of the year exceeded the previous one
The tax revenues of the Federal Government and the States have increased in the first half of the year. According to the Federal Finance Ministry, they amounted to 414.4 billion Euros in the first six months of the year, which is 3.6% higher than the previous fiscal year.
The Federal Government recorded revenues of 180.4 billion Euros (an increase of 5.4%) from January to June. The States reported revenues of 190.4 billion Euros (an increase of 4%) for the same period.
According to the Finance Ministry, economic research institutes expect an economic upturn in the second half of the year. The driving force behind this, according to the Ministry, could be "private consumption, given the real wage growth and a robust labor market." However, the industry sentiment "remains subdued."
The clear improvement in revenues was reflected in the Federal Government's earnings, with a 5.4% increase from the previous year's June half, totaling 180.4 billion Euros. Similarly, the States saw a revenue increase of 4% compared to last year's June half, amounting to 190.4 billion Euros. Additionally, with optimistic projections for the second half of the year, there's anticipation of "plus" revenue growth due to factors like private consumption and a robust labor market.
