German deficit is likely to decline by 1%

© Scanpix/AFP

The German government decreased its forecast for public deficit to 1% of GDP from 1.5%, reported Handelsblatt. However, the debt level is still high, even though it is expected to decrease to 74.5% of GDP by 2015 while the target is 71%. Total deficit figure for the year is projected to be 1% falling from 4.3% in 2010. For 2012 the central bank predicts almost no change in deficit ratio.