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Merkel Says German GDP Growth Likely to Exceed 3% This Year

Germany's  Chancellor Angela Merkel. Photographer: Michele Tantussi/Bloomberg
Germany's Chancellor Angela Merkel. Photographer: Michele Tantussi/Bloomberg

June 11 (Bloomberg) -- German chancellor Angela Merkel said the country’s economic growth this year will probably exceed the official government forecast.

Growth in Europe’s largest economy will “likely be above 3 percent,” Merkel said in the weekly video posted on her website, reiterating comments from May 25. The government’s official forecast is for expansion of 2.6 percent.

Germany’s economy will probably grow 3.6 percent this year, the same rate as in 2010, and 1.6 percent in 2012, the Kiel-based Institute for the World Economy said on June 9. The Bundesbank a day later raised its forecasts to 3.1 percent for this year and 1.8 percent for 2012.

Germany is one of the countries racing to find a plan to stem Greece’s debt crisis.

“We cannot accept an uncontrolled bankruptcy of a country,” Merkel said, without specifying which country she was referring to. Such an event could endanger the recovery of Germany’s economy, she said.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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