Germany: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice; and Statement by the Executive Director for Germany
IMF Staff Country Reports, February 27, 2008
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- Germany: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice; and Statement by the Executive Director for Germany
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Bibliographic details
- Published: February 27, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451810547.002
Key findings
- The German economy has made major strides, helped by wide-ranging reforms.
- Stepping up productivity is the key to sustaining growth.
- Further efforts are needed to bolster and reinforce commendable gains in fiscal outcomes.
Immediate priorities and crisis prevention
- Preserve the integrity of the financial system.
- Maintain economic confidence.
- Greater transparency and stronger incentives for prudent action will support crisis prevention and management.
Banking sector and financial integration
- Policy on banking sector restructuring should be mindful of, and consistent with, the forces of international financial integration.
- Emphasis on aligning supervisory and restructuring actions with cross-border financial dynamics.
Structural policy and labor markets
- Focus on measures to raise labor productivity growth to support potential GDP and longer-term growth.
- Address aging and demographic pressures as part of broader labor and population policy considerations.
Fiscal stance and recommendations
- Continue efforts to bolster and reinforce fiscal gains already achieved.
- Maintain discipline to preserve fiscal sustainability while supporting confidence and financial stability.
Germany: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice; and Statement by the Executive Director for Germany (February 27, 2008).