German govt. lifts 2017 growth forecast to 1.5%

According to the latest government forecast, released on Wednesday, German economy is now expected to grow by 1.5% in 2017, up 0.1 percentage points from the previous forecasts in January. GDP growth forecast for the year 2018 was left unchanged at 1.6%.

German EconMin reaffirmed that economy remains on growth path despite of global uncertainties.

Meanwhile, current account surplus for Euro-zone's biggest economy is expected to fall from 8.3% of GDP in 2016 to 7.3% in 2018, primarily due to strong domestic demand and high oil prices.