MNI: Buba Weidmann Sees German Economy on Solid Footing

By Christian Vits

     FRANKFURT (MNI) - The German economy is likely to experience unabated solid

growth, Bundesbank President Jens Weidmann said Tuesday.

     "The German economy expanded by a seasonally and calendar-adjusted rate of

2.5% in 2017, with a similar growth rate expected this year," Weidmann said at

the presentation of the bank's annual report in Frankfurt. "In both the euro

area and Germany, the economy therefore is growing at a faster pace than

potential output, and this has already been the case for some time," he added.

     In the financial year ending December 31, the Bundesbank posted a profit of

E2.0 billion, compared with E1.0 billion a year earlier.

     Following an allocation to the reserves, the remaining distributable profit

of E1.9 billion (previous year: E0.4 billion) was transferred in full to the

federal government.

--MNI Frankfurt Bureau; +49 69 97782671; email: christian.vits@marketnews.com

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