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. Last Updated: 07/27/2016

Bonn's Taxes Fall Short

n BONN, Germany -- German tax revenue will fall 17.3 billion Deutsche marks ($10 billion) short of the officially forecast figure this year, Finance Minister Theo Waigel said Tuesday.

But Germany will still manage to limit its public deficit to 3.0 percent of output this year as required by the Maastricht Treaty for participation in the launch of the single currency, Waigel said.

"Despite the expected shortfall, the criteria of 3 percent in the Maastricht Treaty can be respected given the current trend of expenditure and the policy for constraining the budget for the rest of the year," Waigel said.