WASHINGTON (AFX) - German domestic demand is now starting to pick up after a period in which economic growth was largely dependent on exports, Finance Minister Peer Steinbrueck said.
'External competitiveness remains strong and there are signs that the dynamic performance of the export sector is starting to spill over to domestic demand,' he told the IMFs main policymaking body.
Steinbrueck said the new German government is firmly committed to cutting its budget deficit in the medium term and enhancing the long-term sustainability of public finances. steve.whitehouse@afxnews.com sw COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited