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The German labour agency expects Germany to post a budget deficit of €30.5 billion due to the coronavirus, Reuters reported on Monday, citing German news outlet Handelsblatt. 

The agency further said that it sees a deficit of €4.4 billion in 2021 and €1.3 billion in 2022.

Market reaction

Germany’s DAX 30 Index paid little to no mind to this headline and was last seen gaining 1.97% on the day at 11,293 points. Meanwhile, the EUR/USD pair is virtually unchanged on the day at 1.0900.