German govt. raises growth forecast for 2014

German govt. raises growth forecast for 2014

PanARMENIAN.Net - The German government is raising its growth forecast for 2014 slightly to 1.8 percent, saying that low unemployment and rising wages should spur domestic demand, the Associated Press reports.

The Economy Ministry had previously predicted 1.7 percent growth.

The growth forecast Wednesday, Feb 12, marks a big rebound from 2013 when Germany managed to eke out only modest 0.4 percent growth.

Germany has managed to keep growing while other countries using the euro currency have stagnated or slumped. It currently has an unemployment rate of 7.3 percent while others such as Spain and Greece have rates above 25 percent.

 Top stories
Samvel Karapetyan’s company confirmed the purchase of the Electric Networks of Armenia and Hrazdan thermal power plant.
“Power generating companies had been affected by the financial deficit in the Electric Networks of Armenia,” the company said.
Armenia’s exports totaled $847 million, up 0,1% from last year, while the imports amounted to $1,810 million, dropping by 26,7%.
Partner news