German deficit seen around EUR100 billion in 2020 – Bild

According to the headlines carried by Bild, a local tabloid newspaper, deficit of German federal government, states, local authorities is estimated at around EUR100bln this year.

The deficit is estimated to reach over EUR300 billion by 2020, Bild reported.

Market reaction

EUR/USD keeps its recovery mode intact around 1.0830, as the euro remains unfazed by the above projections.

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