Germany: Staff Report for the 2005 Article IV Consultation

International Monetary Fund

No 2006/016, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2005 Article IV Consultation highlights that economic activity in Germany is slowly picking up, and there is scope for some further firming of growth in the course of 2006. The recovery, however, remains unbalanced, and strong exports have yet to feed through into higher household spending. Although the risks to the outlook are broadly neutral, an unwinding of global imbalances and higher oil prices could yet provide headwinds for the recovery. On balance, headline growth is forecast at 1 percent in 2005 and 1.5 percent in 2006, implying a gradual recovery in working-day-adjusted terms.

Keywords: ISCR; CR; government; deficit; consolidation strategy; General government balance; income; reform; reform agenda; labor market market trend; coalition agreement; Long-Run Fiscal Sustainability Report; stability program; labor market; ODA funding; Commercial banks; Labor markets; Employment; Wages; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 83
Date: 2006-01-18
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