German labour agency expects deficit of 30.5 bln eur this year - Handelsblatt

by Reuters
Monday, 25 May 2020 10:10 GMT

BERLIN, May 25 (Reuters) - Germany's Federal Labour Agency expects a deficit of 30.5 billion euros ($33.25 billion) this year due to increases in unemployment and use of a government short-time working scheme, newspaper Handelsblatt reported on Monday.

The business daily cited a report drafted by the agency for the parliamentary budget committee as showing it expected a deficit of 4.4 billion euros next year and 1.3 billion euros in 2022.

($1 = 0.9173 euros) (Reporting by Michelle Martin; editing by Thomas Seythal)

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