Germany has sharply lowered the forecast of economic growth

В Германии резко снизили прогноз экономического роста

The growth of German GDP in 2018 and 2019 will be lower due to unfavorable foreign economic conditions.

The German government has significantly lowered its estimate of economic growth for the current year. It is expected that in 2018 and 2019, GDP will increase by 1.8%, announced on Thursday, October 11, the Ministry of economy in Berlin.

Six months ago, in its spring forecast, the Agency predicted a growth of 2.3% this year and 2.1% next year.

An important reason for forecast correction was adverse foreign economic conditions: it is assumed that during the period under review will decrease the growth rate of the world economy. Therefore, according to experts of the Ministry, the export of German goods, expects only moderate growth.

The Minister of economy of Germany Peter Altmaier explained that instability further economic development led to growing protectionism and international trade disputes. “They harm all parties,” – said the Minister.

Recall that Germany in the current year for the third consecutive time to retain top position in the world in trade surplus. It can reach 299 billion.

It was also reported that Germany has reduced the external debt by 40 billion euros. In the first quarter, debt decreased by 2% to 1.95 trillion euros.

Source: Russian service of Deutsche Welle

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