Dear Economic bloggers
For
our IB Economics class our teacher, made us create a blog on economics. Each of
us has a country to focus on. Germany is the country assigned to be. After
plenty researches I have created a graph which explains and shows the basic key
economic statistics of Germany. Demonstrating impressive resilience, the German
economy has withstood the global economic uncertainty and the European
sovereign debt crisis. The government has held firm to policies emphasizing
sound public finance, keeping public spending under control through
deficit-cutting efforts. Earlier labor market reforms that raised working-hour
flexibility and reduced structural unemployment have contributed significantly
to sustaining the relatively robust job market during the economic slowdown,
and there appears to be strong momentum for recovery.
As
you can see from the graph there was constant increase
in government expenditure. Up to 2012 the German government expenditure
was in a constant rise. Instead the investment expenditure had a 4 year rise, but then started diminishing. The
Real GDP growth was quite inconsistent it increased and decreased
unpredictably. The Real GDP was on a constant increase up to 2012. The
unemployment rate was quite particular, because it diminished from 2011 to
2012, it was constant for the first semester of 2013 and then lowered again.
This is a very positive aspect of German’s economy. The same did the inflation rate. The
Government deficit/surplus diminished the first 3 years, but then had a small
increase. The government debt was on a constant rise. Last, but not least,
household consumption had a small decrease and increase alternatively during
the years.
Germany’s
dependable commitment to regulatory efficiency and open-market polices
continues to be bolstered by a legal framework that provides effective
protection of property rights. The rule of law is well maintained, and a strong
tradition of minimal tolerance for corruption is firmly in place.
