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German business group expects up to 2 pct growth in 2015

Xinhua, November 3, 2015 Adjust font size:

The German economy will expand by up to 2 percent in 2015, but more investment is needed, said a business group on Tuesday.

The expectation of Federation of German Industries (BDI) was higher than that of leading German economists who cut their 2015 growth forecast to 1.8 percent last month.

However, BDI president Ulrich Grillo warned that current economic growth was not sustainable, and more impetus was needed to encourage investment.

"We need a better environment for private investment and stronger public investment," he told a business meeting here.

Grillo also said that the influx of refugees would bring long-term benefits to German economy although Germany now must raise a large sum of money to address the crisis.

"The key is to integrate as many refugees in the labor market as possible," Grillo said, adding currently there were about 600,000 vacancies in Germany. Endit