Sunday, October 12, 2014

Worse than expected: Gabriel expects weaker growth – NEWS

Worse than expected: Gabriel expects weaker growth – NEWS


 Monday, October 13, 2014


 A few months ago say Economic Research Institute, a growth of 2 per cent ahead. This is no longer tenable. Minister for Economic Affairs Gabriel revised its forecast and makes mainly responsible international crises.



Federal Minister Sigmar Gabriel expects a weaker economy this year than previously forecast. He believes that “the poor development of the world economy, especially the very poor development in Europe, results that we remain well below the forecasts,” Gabriel told ZDF television. Gabriel delivered on Tuesday the new growth forecast of the Federal Government.

A few days ago had the leading economic research institutes corrected in their autumn report its economic forecast down. For this year, they expect growth of 1.3 percent. In April they had expected 1.9 percent. Your forecast for 2015 lowered the economic experts from 2.0 to 1.2 percent.

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Gabriel said in the television interview, said the government was already less optimistic earlier this year as the economy ways. “Obviously, it’s not the government alone could not predict the Ukraine crisis, which has not previously seen that we have a the world shattering war in northern Iraq and that we have a development in Europe, which is much worse than predicted” , the Minister added.

At the same time stressed Gabriel, growth in Germany is comparatively robust. The number of new jobs was increasing by more than 300,000 a year, most of which are subject to social insurance. “Therefore, Germany is in a difficult global economy, in a difficult environment, still in good shape.” Germany is still the economic engine.



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