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All eyes are glued to the 2019 draft budget. The power struggle between the Economy Ministry and the leaders of the two governing parties was won by the latter. Finally, the deficit will definitely rise to 2.4% in 2019, but will fall to 2.1% in 2020 and 1.8% in 2021. We will, therefore see a fiscal expansion next year, but the fiscal stance will subsequently become neutral once more. The long march towards a cancellation of the structural deficit will then resume from 2022.
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