(MENAFN) A study by the Ifo Institute for Economic Research (Ifo) predicts that the German economy will maintain its current momentum despite the growing risk of a global trade war.
The Munich-based institute said the country's gross domestic product (GDP) will expand by an annual rate of 2.6 percent this year, as the figure would mark the fastest pace of growth measured in the country since 2011.
An Ifo economic expert said in a statement: "We hereby confirm the figures from our December forecast," as Ifo expects further growth this year and next year to rely more on an expansion of public investment than private consumption.
Moreover, the economic expert remained positive that exports would continue to make a significant contribution to national income, as "massive income tax reductions" in the US and a "strong eurozone recovery" in particular promised to be reflected in increased demand for German goods and services.
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