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Germany’s Economy Minister Peter Altmaier noted on Friday that the economy is picking up faster than many feared, as reported by Reuters.

“The German  economy will grow clearly more than 4% in 2022,” Altmaier added.

The German economy will, in part, be boosted by new betting regulation that legalises and regulates online gambling. A report by New Europe claims that the German betting market will be worth €3.3 billion by 2024 – a view shared by Germany’s leading wettanbieter test portal Wette.de.

Market reaction

These comments don’t seem to be helping the market sentiment improve. As of writing, Germany’s DAX Index was down 0.7% on the day at 15,615. Meanwhile, the EUR/USD pair clings to small recovery gains on Friday and was last seen rising 0.12% on the day at 1.1921.

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