Special Report17.2.2009

Said the German Institute for Economic Research that the German economy could shrink by 3% this year, more than most expectations.
The Institute based in Berlin that the decline in factory orders, production and the weakness of the construction sector will lead to a decline in gross domestic product of Germany.
And the expectations of the Institute's expectations announced by the German government, which amounted to 2.25%.
The institute expects the German economy shrinking by 1.4% in the first quarter of this year.
He explained that although the government-funded programs and the decline in commodity prices may well return to the economies of Germany and its trading partners, the future growth in Germany is heavily dependent on foreign markets as Germany is the largest source of the world.
Said Stephen Coates, spokesman for the Institute that the decline in the volume of exports of high value is the main reason for the weakness of the German economy.
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