21 January 2009 15:30 [Source: ICIS news]
TORONTO (ICIS news)--Germany’s government expects the country’s economy to decline by 2.25% in 2009 as it was facing its biggest challenge since reunification in 1990, it said on Wednesday.
The projected decline, which already included expected positive impulses from government stimulus and employment measures, is in line with recent forecasts by economists, but it is sharply down from the government’s earlier expectation of 0.2% growth for the year.
It compares with an overall 1.8% decline decline expected for the 27-member state European Union this year.
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