The Dow Jones Newswire has reported that German federal government tax revenue this year has gone pretty much according to plan despite a sharp down turn in the economy. Finance Minister Hans Eichel confirmed that the budget situation is positive and should enable the government to keep this year's net borrowing target at DEM43.7 billion as planned - although he did not rule out the possibility of exceeding this target.
The sharp economic decline is likely to lead to lower tax revenue in the near future as well as higher unemployment payments.
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