The German economy remains under pressure

In addition, the deficit in the German state budget last year was larger than previously assumed. Expenditure by the federal government, states, municipalities and social security exceeded income by 87.4 billion euros, as the Federal Statistical Office announced on Friday. An initial estimate in January only showed a loss of 82.7 billion euros. The new result corresponds to a deficit ratio of 2.1 (previously: 2.0) percent of gross domestic product, which once again remained below the EU upper limit of three percent.