Germany: Staff Report for the 2004 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 341

Publication date: November 2004

ISBN: 9781451810479

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Labor , Economics- Macroeconomics , Public Finance , Demography , ISCR , CR , deficit , growth outlook , outlook , growing , headline inflation , retirement age , near-term prospect , expectations component , labor market , Wages , Labor markets , Labor policy , Global

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Summary

The staff report for the 2004 Article IV Consultation on Germany highlights economic developments and policies. Profitability in nonfinancial firms has picked up, and corporate balance sheets are being repaired. On the policy front, Germany has made important headway over the past year in addressing deep-seated structural problems. The financial sector is recovering, and updated stress tests confirm the system’s resilience, but progress in market-driven restructuring has been slow. Notably, important strides have been made in pension and health care reform, and in reforming unemployment benefits.