The German economy may be better in 2010 after experiencing slowing growth this year under the impact of the global financial crisis, Chancellor Angela Merkel said Tuesday.
"We will have bad news in 2009 but we will be taking measures to make it better again in 2010," Merkel told an association of employers in Berlin.
On Oct. 29, Merkel announced the adoption of a "targeted, bold and sustainable" rescue package to boost the economy amid an expectation of global recession.
The package is worth a total of 50 billion euros (63 billion U.S. dollars), according to reports.
It was the first announcement made by German government to support the economy after the country's parliament passed the 500-billion-euro (some 650 billion U.S. dollars) bank-rescue plan on Oct. 17.
Merkel said the newly announced rescue package will act as a "bridge" for enterprises and citizens to survive the weak economic period caused by global financial turmoil.
However, she opposed a "broad" stimulus program and emphasized that the new rescue package is "completely different from an artificial, state-sponsored program to stimulate demand that costs billions."
On Oct. 16, the German government slashed its national economic growth forecast for next year from 1.2 percent to 0.2 percent, with the finance minister saying the nation, which is Europe's biggest economy, was on the brink of economic recession in the wake of the global financial meltdown.
Source:Xinhua
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