Germany's current account surplus remained the world's largest last ye...
BERLIN - Germany’s current account surplus remained the world’s largest last year despite trade tensions, the Ifo economic institute will say on Monday, in an estimate likely to renew criticism of Chancellor Angela Merkel’s fiscal policies.
The Ifo estimate, seen by Reuters ahead of publication, put Germany’s current account surplus — which measures the flow of goods, services and investments — at some $293 billion in 2019. The International Monetary Fund and the European Commission have for years urged Germany, Europe’s largest economy, to do more to lift domestic demand and imports as a way to reduce global economic imbalances and stimulate growth elsewhere.Germany’s current account surplus can mainly be attributed to the fact that far more German products and services are sold overseas than imported to Europe’s largest economy.
Ifo economist Christian Grimme said the German surplus increased last year by almost 16 billion euros to some 7.6% of gross domestic product .
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