The German economy is expected to generate in 2015 a record trade surplus driven by the drop in world prices for oil and gas, writes the weekly Saturday Der Spiegel which relies on an internal note of the Department of Finance.
The surplus in the trade balance of the first European economy should represent 8.1% of its gross domestic product, against 7.6% in 2014. The decrease in the cost of oil and gas imports explains alone 1.2 percentage points in the expected growth of the trade surplus.
This new record surplus should reopen the debate on the alleged role of Germany in the imbalances in the global economy. In a report published last month, the International Monetary Fund called the Merkel government to strengthen medium-term growth and reduce external imbalances.
The European Commission considers it as a regular trade surpluses above 6% of GDP are dangerous for stability and urged Berlin to encourage investment to boost imports.
No comments:
Post a Comment