Germany: Staff Report for the 2004 Article IV Consultation

International Monetary Fund

No 2004/341, IMF Staff Country Reports from International Monetary Fund

Abstract: The staff report for the 2004 Article IV Consultation on Germany highlights economic developments and policies. Profitability in nonfinancial firms has picked up, and corporate balance sheets are being repaired. On the policy front, Germany has made important headway over the past year in addressing deep-seated structural problems. The financial sector is recovering, and updated stress tests confirm the system’s resilience, but progress in market-driven restructuring has been slow. Notably, important strides have been made in pension and health care reform, and in reforming unemployment benefits.

Keywords: ISCR; CR; deficit; growth outlook; outlook; growing; headline inflation; retirement age; near-term prospect; expectations component; labor market; Wages; Labor markets; Labor policy; Global (search for similar items in EconPapers)
Pages: 58
Date: 2004-11-02
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