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The visible traces in public finances

The visible traces in public finances | 27 April 2023

27 April 2023, EUR/USD

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Germany expects to post a deficit of 4.25% of gross domestic product in 2023, up from a 2.6% deficit the previous year, according to finance ministry calculations published. Overall, the deficit is projected to be gradually reduced to about 0.75% of GDP by 2026. "In the crises of the past few years, extraordinary resources were mobilized. This has left visible traces in public finances, so that the consolidation of public finances in the coming years will have to be carried out ambitiously," the finance ministry said. These estimates assume a complete outflow of the funds earmarked for the government's response to the energy crisis. However, it is already becoming apparent that fewer funds will be needed due to falling energy prices, the ministry said.

Investment idea: range 1.0990 -1.1090.

David Johnson
Analyst of «FreshForex» company
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