Merz Vows to Protect Germany’s AAA Credit Rating Through Reforms
(MENAFN) German Chancellor Friedrich Merz pledged Wednesday to maintain Germany's top-tier AAA credit rating, emphasizing his government's commitment to strong public finances through spending reductions and structural reforms amid growing concerns over fiscal stability.
"Germany is the only country among the G7 that still has a triple-A rating. I want that to remain the case," Friedrich Merz said after receiving the annual assessment from the German Council of Economic Experts.
He stressed that preserving the country's highest credit standing remains a shared priority across his Cabinet, adding that all necessary measures should be taken to prevent Germany from losing its position.
The Group of Seven comprises seven major industrialized economies: the United States, the United Kingdom, France, Germany, Italy, Canada and Japan.
Merz also welcomed the council's improved economic growth forecast, which was raised to 1.3%, pointing to signs of a gradual recovery after a difficult period for the German economy.
"Given the many crises in Germany, it was not necessarily to be expected that we would manage to pull this off," he said.
The chancellor expressed optimism that the recovery would extend into the coming year, potentially improving conditions for companies and households across the country.
Addressing the report's recommendations on government finances, Merz said his administration agreed on the need for disciplined budget management and sustainable public spending. He acknowledged, however, that Germany faces several pressing challenges requiring substantial financial resources, making fiscal discipline and careful allocation of funds particularly important.
"Germany is the only country among the G7 that still has a triple-A rating. I want that to remain the case," Friedrich Merz said after receiving the annual assessment from the German Council of Economic Experts.
He stressed that preserving the country's highest credit standing remains a shared priority across his Cabinet, adding that all necessary measures should be taken to prevent Germany from losing its position.
The Group of Seven comprises seven major industrialized economies: the United States, the United Kingdom, France, Germany, Italy, Canada and Japan.
Merz also welcomed the council's improved economic growth forecast, which was raised to 1.3%, pointing to signs of a gradual recovery after a difficult period for the German economy.
"Given the many crises in Germany, it was not necessarily to be expected that we would manage to pull this off," he said.
The chancellor expressed optimism that the recovery would extend into the coming year, potentially improving conditions for companies and households across the country.
Addressing the report's recommendations on government finances, Merz said his administration agreed on the need for disciplined budget management and sustainable public spending. He acknowledged, however, that Germany faces several pressing challenges requiring substantial financial resources, making fiscal discipline and careful allocation of funds particularly important.
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