German economy expected to reach pre-crisis levels in mid-2022 – Reuters

The German economy ministry is expecting the German economy to reach pre-crisis levels in mid-2022, Reuters reported on Monday, citing a draft government document.

Further details of the report revealed that the ministry sees a debt-to-GDP ratio of 72.5% in 2021 and 68.75% in 2024. 

Market reaction

This headline doesn’t seem to be helping market sentiment improve, which soured following the disappointing IFO data earlier in the day. As of writing, Germany’s DAX 30 Index was down 0.25% on the day at 13,839 and the EUR/USD pair was losing 0.17% at 1.2149.