(MENAFN- Saudi Press Agency) The German government is expected to announce on Wednesday that it has raised its economic growth forecasts as cheap oil, a weak euro and the European Central Bank's new monetary stimulus measures drive the nation's expansion rate.
Europe's biggest economy will grow by 1.8 per cent both for this yearand 2016, Berlin officials told dpa the government will say in its new projections. The government had forecast in January a 1.5 per cent growth rate for 2015.
Still, the government is somewhat more cautious than Germany's four leading economic institutes, which last week revised up their 2015 growth forecast to 2.1 per cent. In October, they had forecast growth of 1.2 per cent.
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