German Minister Wants Tax Cuts to Heat Up Cooling Economy
Germany Economics Minister Michael Glos wants to launch a €10 billion ($15.6 billion) spending program to help cushion the country from the effects of a slowing economy, SPIEGEL has learned.
Bert Rürup of Darmstadt University, who chairs the German Council of Economic Advisors that advises Angela Merkel's government, said he could foresee a temporary shrinking of German economy. "Because of the orders in hand, a recession in Germany is unlikely, but it can't be ruled out entirely," he told SPIEGEL. He also said he feared that the number of unemployed in the country would only continue to sink until the end of the year." Job creation in recent months has resulted in a dramatic decline in the number of unemployed in Germany.
No comments:
Post a Comment