The German government has confirmed the Economic Ministry's 2014 growth outlook, saying that GDP will expand slightly more this year than previously predicted. It said the labor market would benefit as well.
German cabinet ministers on Wednesday adopted the 2014 Annual Economic Report, which included slightly higher expectations for growth in the course of this year.
The government said it expected the national economy to expand by 1.8 percent in 2014, marginally up from an earlier prediction of 1.7 percent. The report said the growth rate would increase to 2 percent next year.
Commenting on the report, conservative lawmakers in Berlin said everything should be done to avoid jeopardizing the growing economic momentum amid problems caused by the country's energy transition and the aftermath of the protracted eurozone debt crisis.
Exports to rise again
But the government admitted the overall jobless rate would only dip by 0.1 percent this year to 6.8 percent and would most likely remain unchanged at that level in 2015.
Following a slight decline in exports last year, the report said German shipments abroad would rise again significantly in 2014, based on growing demand in markets in Europe and overseas.
hg/jm (Reuters, dpa)