Higher exports to lift German growth, investments - economy ministry
Reuters
Published Apr 26, 2017 10:35
Higher exports to lift German growth, investments - economy ministry
BERLIN (Reuters) - The German economy is on a solid growth path despite global uncertainties, the economy minister said on Wednesday, adding that it expects companies to gradually start investing more as exports gradually grow.
The government raised its growth forecast for this year to 1.5 percent from a previous estimate of 1.4 percent. It maintained its forecast for 2018 growth at 1.6 percent.
The economy ministry said the booming construction sector, helped by low interest rates and increased government investments in infrastructure, was providing a strong impulse for the economy.
It added that Germany's high current account surplus, which has been criticized by the United States, the International Monetary Fund and European Commission, would fall from 8.3 percent of output in 2016 to 7.3 percent next year.
"The current account surplus should fall...not least because of solid domestic consumption and higher crude oil prices," the ministry said in a statement.
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Written By: Reuters
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