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Germany to trump Japan again with world’s largest current account surplus: Ifo

Germany to trump Japan again with world's largest current account surplus: Ifo© Reuters. Aerial view of containers at a loading terminal in the port of Hamburg

BERLIN (Reuters) – Germany’s current account surplus is set to remain the world’s largest this year, the Ifo economic institute said on Monday, in an estimate that is likely to renew criticism of Chancellor Angela Merkel’s economic and fiscal policies.

Germany’s current account surplus — which measures the flow of goods, services and investments — will remain the world’s largest for the third year running in 2018 at $299 billion, followed by Japan with $200 billion, according to Ifo estimates.

The International Monetary Fund and the European Commission have for years urged Germany to do more to lift domestic demand and imports as a way to stimulate growth and reduce global economic imbalances. Since his election, U.S. President Donald Trump has also criticized Germany’s export strength.

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Source: Investing.com

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