Will the Current Revenue Shortfalls Jeopardise Consolidation? Tax Revenue Estimate of May 2013

According to the results of 142nd Meeting of the Tax Revenue Estimate Working Group, a revenue shortfall is expected vis-à-vis the forecast in November. In line with the economic development, government tax revenues in the fourth quarter of 2012 fell short of expectations. In addition, tax cuts have dampened revenues. The production potential, which was again assessed as lower, will also lead to a structural worsening of the budgetary situation.