Economy growth forecasts in Germany has been raised for the year of 2017. The German government predicted that the largest economy in Europe will grow by 1.5% this year and further growing by 1.6% in the following year. Previous forecasts predicated that this year it will just grow at 1.4% due to several political uncertainties and due more public holidays falling on working days.
According to Brigitte Zypries, the Economy Minister, the international risks are not affecting highly the German economy since the domestic demand increased over the past years, therefore, the German expenditure should remain increasing and not decrease.
She also explained that there are still some uncertainties remaining due to Britain’s exit from the EU and the implications from the US. She said that, “A lot of our companies still don’t know exactly what is coming.”