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Focus on tax revenue: Experts meet in Gotha to forecast
Thuringian tax estimators meet in Gotha for the autumn forecast 2024-2029 to analyze crucial tax developments.
Focus on tax revenue: Experts meet in Gotha to forecast
Gotha.In a thrilling meeting in Thuringia, the financial world is pulling out all the stops! The experts from the Tax Estimation Working Group have come together to tackle the Herculean task of tax forecasting - and all this in the shadow of growing uncertainty!
Since Tuesday, in the picturesque town of Gotha, people have been advising, estimating and calculating! The financial future of the federal, state and local governments for the years 2024 to 2029 will be put to the test here. The excitement is rising because the results will be presented on Thursday! Can politicians hope for positive news? The signs are pointing to a storm!
Uncertain times for Thuringia
Thuringia's Finance Minister Heike Taubert (SPD) warns urgently: "This year we are suffering from weak growth. A recovery is not expected to begin until 2024." The gloomy news is no coincidence - tax revenues are being put under pressure. Taubert leaves no doubt that the May forecast was rather optimistic. “Keeping the same in tax development is the minimum of expectations.” The future looks anything but rosy, as a turnaround seems a long way off!
Economic decline on the table
The federal government has now drastically reduced its forecasts: a decline in economic output of 0.2 percent is expected for this year - a raging storm in the economic sector! A small increase of 0.3 percent was estimated in the spring. But the shadows of uncertainty will also extend into the future, as only a meager increase of 1.1 percent is expected for 2025. A clear sign that the economy is on the brink!
The tax forecast is a fundamental basis for budget policy - and it could decide fate! But now they are sitting together: experts from the federal government, leading economic institutes, the Federal Statistical Office, the Bundesbank and many other greats. They are all looking at the economic development that will shape the financial landscape from now on.