German 2020 deficit estimated at €100B

German 2020 deficit estimated at €100B
  • Clock-gray 18:35
  • calendar-gray 11 May 2020

A deficit of the German federal government, state and local authorities for 2020 is estimated at around €100 billion, APA reports citing Bild.

Furthermore, projections are the deficit will reach more than €300 billion in the next four years.

That the country is facing an economic crisis, the Mechanical Engineering Industry Association (VDMA) confirmed earlier today by sharing the information that 90% of domestic companies are seeing themselves as affected by the pandemic.

Meanwhile, the coronavirus infection rate started going up again as the country slowly started reopening.

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