In May, the Fiscal Council Increased the Deficit Estimate for This Year to Five Percent of GDP.

The public finance deficit this year will reach five percent of gross domestic product (GDP) or 6.9 billion euros, unless the government takes any additional measures. The negative deviation from the budget target thus reaches 0.3 percent of GDP, which means a medium risk for meeting the approved budget. This is estimated by the Budget Responsibility Council (RRZ) in the current May budget traffic light, which it updates every month. The Budget…