German labour agency sees 2020 deficit of €30.5 billion due to coronavirus – Handelsblatt

25 May 2020, 10:14 by Eren Sengezer

The German labour agency expects Germany to post a budget deficit of €30.5 billion due to the coronavirus, Reuters reported on Monday, citing German news outlet Handelsblatt.

The agency further said that it sees a deficit of €4.4 billion in 2021 and €1.3 billion in 2022.

Market reaction

Germany's DAX 30 Index paid little to no mind to this headline and was last seen gaining 1.97% on the day at 11,293 points. Meanwhile, the EUR/USD pair is virtually unchanged on the day at 1.0900.