German government deficit to hit 4.5% in 2023 - Spiegel

Reuters

A deficit of 4.5% of gross domestic product (GDP) is more than double the amount originally calculated, according to Spiegel

Miranda Murray, Reuters News

December 9, 2022

PHOTO

BERLIN - The German government's public deficit will be significantly higher in 2023 than previously thought, reaching 4.5%, due mainly to energy relief measures, the Spiegel news magazine reported on Friday, citing finance ministry documents.

A deficit of 4.5% of gross domestic product (GDP) is more than double the amount originally calculated, according to Spiegel.

The deficit should drop to 2% in 2024 and then to 1.5% in 2025 and 2026, as state aid becomes limited and expires over the course of 2024 under current government plans, Spiegel reported.

(Writing by Miranda Murray, editing by Rachel More)

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.