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14 Apr 2015
Germany Upgrades 2015 Growth Forecast
FXStreet (Mumbai) - The German finance ministry upwardly revised its growth projection for this year, Reuters reported on Tuesday.
According to a document titled 'the Stability Program' seen by the news agency, the Wolfgang Schauble-led ministry now expects the euro area's largest economy to expand 1.6% of GDP in 2015, up by a notch from the 1.5% growth projected previously.
The outlook was raised last time in January from a 1.3% growth projection.
The paper, to be approved by the German cabinet on Wednesday and then sent to Brussels, also puts average growth for the years 2017-2019 at "a good 1.25%" per year.
Meanwhile, the country's overall debt will fall to below 70% of GDP in 2016, one year earlier than previously planned, the story said.
According to a document titled 'the Stability Program' seen by the news agency, the Wolfgang Schauble-led ministry now expects the euro area's largest economy to expand 1.6% of GDP in 2015, up by a notch from the 1.5% growth projected previously.
The outlook was raised last time in January from a 1.3% growth projection.
The paper, to be approved by the German cabinet on Wednesday and then sent to Brussels, also puts average growth for the years 2017-2019 at "a good 1.25%" per year.
Meanwhile, the country's overall debt will fall to below 70% of GDP in 2016, one year earlier than previously planned, the story said.