The EU has cut growth forecasts for Germany for the second time this year, as trade tensions and a Chinese slowdown weigh on the traditional economic powerhouse of the region.
Germany is only expected to grow at a rate of 0.5% this year, according to the latest economic forecasts by the European Commission. It will be the second-worst economy across the EU in terms of growth, with only Italy looking more downbeat. It comes after the institutionThe German economy, driven by manufacturing and exports, has been impacted by stalling growth in China, trade tensions and the introduction of new emission standards on its car industry.
The forecasts suggested that Germany's budget surplus will hit 1% this year and decline to 0.8% in 2020. Government debt is expected to fall from 58% of GDP in 2019, to 56% in 2020. "As global trade and growth are expected to remain weaker this year and next compared to the brisk pace seen in 2017, economic growth in Europe will rely entirely on domestic activity," the institution said Tuesday.
The European Commission foresees adverse domestic factors and economic activity outside the EU will rebound in 2020, which is set to bolster GDP rates across the 28-member bloc.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
The EU has approved Mastercard and Visa's proposed fee cutsThe EU accepted Visa and Mastercard's proposed fee cuts on payments made on non-EU cards — marking the end to a more than decade-old antitrust investigation:
और पढो »
EU leaders set to meet just after EU election: officialsNational leaders of the European Union are likely to meet for a summit in Brusse...
और पढो »
Poland must stop treating EU as a money-making machine - KatainenPoland should stop treating the European Union as a money-making machine and mak...
और पढो »
How is Brexit affecting FDI into Britain?Foreign investment remains strong, but it would be stronger still were Britain not leaving the EU
और पढो »
U.S. and EU concerned by Turkey's plans to drill off CyprusThe United States and European Union have expressed deep concern over Turkey&03...
और पढो »
Poland must stop treating EU as a money-making machine: KatainenPoland should stop treating the European Union as a money-making machine and mak...
और पढो »
EU vows response to US move over confiscated property in CubaEU's foreign policy chief Federica Mogherini says steps could include a WTO case on the issue or using a 'Blocking Statute,' after the Trump administration lifted a ban on US citizens filing lawsuits against investors in Cuba.
और पढो »
Exit from mainstream looms after Orban rejects EU conservativeThe leader of Germany's conservatives said she expected Hungarian Prime Min...
और पढो »
ThyssenKrupp sees room for EU agreement on Tata Steel dealThyssenKrupp said on Sunday it still saw scope for agreement with European antit...
और पढो »
Cambodian rice exports to China surge following EU tariffsCambodian rice exports to China have surged after the European Union imposed dut...
और पढो »
Apple is reportedly set to face an EU investigation over Spotify's competition complaintSpotify's complaint alleges Apple Music gives the U.S. tech giant an 'unfair advantage' over rivals.
और पढो »