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Financial News: German Govt Lifts 2017 Growth Outlook

German Govt Lifts 2017 Growth Outlook

04/26/2017 - 08:15:00 (RTTNews)

(RTTNews) - Germany's economy is likely to expand more than previously projected in 2017, the Economy Ministry said Wednesday.

The German economy remains on a growth path despite global uncertainties, Economics Minister Brigitte Zypries, said.

The ministry forecast 1.5 percent growth this year and 1.6 percent in 2018. The projection for 2017 was raised from 1.4 percent.

The ministry said construction investment, low interest rates and high demand for housing are the main growth drivers.

The current account surplus is forecast to fall to 7.3 percent in 2018 on strong domestic demand and higher crude prices.

Inflation is forecast to rise to 1.8 percent in 2017 before slowing to 1.6 percent in 2018.

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