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Germany

Author

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  • Ana-Cristina Bâlgăr

Abstract

In 2015, federal economy continued to be supported by the same foundations as in the previous year, mainly by internal factors – in contradiction with its classical development pattern, which was primarily oriented towards exports – fostered by the labour market stability and by the maintenance of favourable financing conditions, elements that had a major stimulating effect on the domestic demand. According to the latest estimates of the EU experts in full consensus with the forecasts outlined at national level, this trend will continue for the prognosis interval 2016-2017, when the economic growth is likely to be fuelled by the same drivers, namely, a robust labour market and a further improvement of the financial framework, coupled with the stunning fall in global oil prices and with an additional increase in public spending, generated by the need to integrate a large number of refugees and asylum seekers. The present paper aims to analyse the main drivers of economic growth in Germany in 2015 and furthermore to review the relevant international forecasts of economic activity in 2016-2017.

Suggested Citation

  • Ana-Cristina Bâlgăr, 2016. "Germany," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 65-75.
    • Handle: RePEc:iem:conjun:y:2016:p:65-75
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