Economy in Germany

  • German Economy Set To Continue Strong Momentum In Q3

    GERMANY, 2017/08/22 The German economy is set to continue strong momentum in the current quarter, Bundesbank said in its monthly statement on Monday. The central bank said GDP increase in the current year could even be somewhat stronger than expected in the June projection. The bank had before estimate 1.9 % increase for 2017.
  • Africa: G20 Should Build Digital Economy Friendly to Growth, Jobs - Xi

    CHINA, 2017/07/10 Chinese President Xi Jinping says the Group of 20 (G20) members should build a digital economy that is friendly to increase and employment. He made the remarks while attending the two-day G20 summit in the German port city of Hamburg. "We should actively adapt ourselves to digital evolution, foster new economic drives, advance structural reforms and promote integrated development of digital and real economy," said President Xi.
  • African bankers scrutinize German minister’s ‘Marshall Plan with Africa’

    GERMANY, 2017/03/08 German Development Minister Gerd Müller has been canvassing support for his ‘Marshall Plan with Africa’ at the African Development Bank in Ivorian capital city of Abidjan. Some bankers thought his discussion paper lacked detail, reports Adrian Kriesch. In the modern premises of the African Development Bank (AfDB) in the Ivorian commercial hub of Abidjan, around twenty board members are gathered around an enormous table. Almost all of them are bankers with years of experience in development finance. They meet each week to discuss applications for loans, around 300 each year. Last year they disbursed almost US$11 billion (10.5 billion euros) in loans.
  • Frankfurt skyline, with Deutsche Bank twin towers on the right

    GERMANY, 2016/09/29 Germany has denied reports that it was preparing to rescue its biggest lender, Deutsche Bank, amid concern of a new systemic crisis in Europe. “The German government is not preparing a rescue plan and there's no reason for such speculation”, Martin Jaeger, a German finance ministry spokesman, said on Wednesday (28 September). Christine Lagarde, the chief of the International Monetary Fund (IMF), as well tried to reassure markets, telling US broadcaster CNBC: “I don’t see that particular institution as ... [being] at a stage where national intervention is absolutely called for at the moment.” The bank’s CEO, John Cryan, told German newspaper Bild one day before that “at no point did I ask the [German] chancellor for support” and that a rescue was “out of the question”.
  • Europe in 2016: Terror fears, migration, politics. But economy may turn a corner

    ALBANIA, 2016/01/02
  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
  • German consumer climate declined for the third consecutive month

    GERMANY, 2015/11/24 German consumer climate declined for the third consecutive month with the in general indicator at 9.4 points for November, following a price of 9.6 points in October, market research group GfK reported Wednesday. According to GfK, gain expectations of German consumers remains unchanged from previous month, while economic expectations and the willingness to buy have both suffered losses for the fifth time in a row. "Although this is the third consecutive drop in the consumer climate and the lowest level since February, the indicator is still very satisfactory," said Rolf Buerkl, an analyst for the Nuremberg-based research group.
  • Tsipras has not only agreed to all the terms he before called "blackmail",

    FINLAND, 2015/08/02 German Finance Minister Schaeuble claims that he raised the possibility of a Greek exit to push for an alternative, and he did so with backing of the Merkel government. He used the threat of a violating the "irreversible clause" of the EMU Treaty as a cudgel to beat Greek Prime Minister Tsipras into submission. It appeared to work. Tsipras has not only agreed to all the terms he before called "blackmail", but he agreed to essentially implement all the before agreements since the crisis began and additional. There is a powerful argument that believes that Germany crossed an significant line. As Wolfgang Manchau wrote in the Financial Times, "They have destroyed the Eurozone as we know it and demolished the idea of a monetary union as a step towards a democratic political union...They demoted the Eurozone into a toxic fixed exchange-rate system, with a shared single currency, run in the interests of Germany, held together by the threat of absolute destitution for those who challenge the prevailing order."
  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
  • Germany Lowers Growth Forecasts

    GERMANY, 2014/10/15 Germany's economy ministry on Tuesday cut its increase forecasts for this year and next, citing weaker request in export markets due to rising geopolitical tensions and sluggish world increase. The increase estimate for this year was slashed to 1.2 % from 1.8 % seen in April. The outlook for 2015 was reduced to 1.3 % from 2 %. The German foreign trade is in troubled waters, the country's Economy Minister Sigmar Gabriel said. The increased geopolitical crises are causing uncertainty and the moderate world increase is acting as a drag on the biggest Eurozone economy, the minister said. However, domestic economic activity remains intact, he added.