Spring forecasts in Germany
According to the press release of Ministry of Economy of Germany the German Federal Government has predicted a reduction of real GDP by an average of 6%, in its spring forecasts for the current year and expects its growth by 0.5% in 2010.
“The economic recession, which is expected in the current year, for the most part, is a consequence of massive disruption in the global economy and the consequent drastic reduction in our exports,” – quotes a leading paper from the speech of Minister of Economics and Technology of Germany Karl-Theodor zu Gutenberg at the meeting of the Cabinet of Ministers.
According to him, the two existing government programs to improve conditions allow Germany in a national scale “to survive better” compared with other countries. In this regard, zu Gutenberg sees no benefit in taking the third market program, as called for by some politicians and experts.
