BERLINWASHINGTON, Oct 24 Reuters Germany39;s council of tax experts expects 58.1 billion euros 62.72 billion less in total tax revenue in the 20242028 period compared with its May forecast, projections on Thursday showed.

For the federal government alone it expects 12.6 billion euros less in tax revenues in the fiveyear period, according to the updated estimates.

There is no new room for manoeuvre in the budget. On the contrary We will have to consolidate further, German Finance Minister Christian Lindner said on Thursday in Washington.

The cabinet approved the 2025 budget, which includes a 12 billion euro 12.95 billion funding shortfall, in the summer after months of wrangling. But it left open the issue of how to reduce the gap between projected spending and revenue.

We cannot rely on the fact that tax revenues will keep flowing. We need economic growth, Lindner said.

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Reporting by Maria Martinez, Kirsti Knolle Editing by Miranda Murray

Source Reuters