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IMF sees 3.2 pct German growth this year

IMF sees 3.2 pct German growth this year

A report from the International Monetary Fund is forecasting that the German economy will grow by 3.2 percent this year, but says the country could do more to encourage growth in the long term.
Europe's biggest economy has recovered spectacularly from the global financial crisis and grew by 3.6 percent last year. The official German government forecast for 2011, made in April, is for growth of 2.6 percent.
The deputy director of the IMF's European department, Juha Kahkonen, said Tuesday Germany is "now in a position that most advanced countries can only dream about."
But an annual report says that _ as world trade growth slows and governments cut spending _ Germany's longer-term prospects are for growth of about 1.25 percent a year.
Kahkonen says that "Germany can do better."


Updated : 2021-06-22 23:03 GMT+08:00