13th Statement of the Independent Advisory Board to the Stability Council

The Independent Advisory Board to the Stability Council (Unabhängige Beirat des Stabilitätsrats) published its 13th Statement about the structural government budget deficit.

The structural government budget deficit will increase to the record-height of 5 ½ % of GDP in 2020 and could be even higher depending on the stimulus package. The Council regards this as acceptable based on the European regulations given the special circumstances. Nevertheless, the Council asks the Stability Council to ensure that the deviation from the upper limit of the structural deficit will be corrected in accordance with the European regulations as soon as the special situation no longer exists.

See here for the press release (in German) and here for the Statement (in German).