Germany: Staff Report for the 2000 Article IV Consultation

International Monetary Fund

No 2000/141, IMF Staff Country Reports from International Monetary Fund

Abstract: Fiscal policy has a strong foundation in the multiyear program of spending cuts, tax reforms, and deficit reduction in Germany. Germany's focus on actual, rather than cyclically adjusted, fiscal goals and outcomes carries the risk of rendering fiscal policy procyclical. The recent business and personal income tax reforms, pension reform, and product market reforms is commendable. But the potential benefits of these diverse reforms require a more proactive approach to labor market reform. The longer-term efficiency and functioning of the financial sector pose challenging issues.

Keywords: ISCR; CR; headline CPI inflation; growth; inflation outlook; proceeds; cost; interest saving; cost trend; growth projection; Labor markets; Labor costs; Wages; Income tax systems; Pension spending; Europe; Global (search for similar items in EconPapers)
Pages: 45
Date: 2000-11-02
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