FRANKFURT (MNI) – Average unemployment next year is expected to be
under three million for the first time in almost 20 years, German
Economics Minister Rainer Bruederle predicted Thursday.
Germany’s “extra-large recovery is continuing,” the minister said
just ahead of the official release of the economic estimates of the six
largest economic institutes in Germany.
“We are coping with the crisis better than many other advanced
economies,” Bruederle said, saying that developments on the labor market
are “especially gratifying.”
He called Germany “the land of recovery.”
“In 2011 we anticipate average unemployment of under three million
for the first time in almost twenty years,” he predicted. “This proves
that the recovery is also a recovery in employment.”
In the coming year, Germany must carry out “necessary” budget
consolidation, Bruederle said.
Germany’s six leading economic institutes estimate annual GDP
growth of 3.5% this year and 2.0% in 2011.
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,MAGDS$,M$X$$$,MFX$$$,M$$CR$,M$$EC$,M$$FX$]
