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The German government’s public deficit will be much higher in 2023 than previously thought


Spiegel news magazine report (via Reuters), citing Treasury Department documents:

  • German government’s public deficit reaches 4.5%, mainly due to energy aid measures
  • A 4.5% deficit in gross domestic product (GDP) is more than double the amount originally calculated, Spiegel says
  • the deficit is expected to fall to 2% in 2024
  • to 1.5% in 2025 and 2026, as state aid becomes limited and expires in the year 2024 under current government plans

Given the scale of the energy relief measures, is this really a surprise?

USD update:

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