Germany must act to reduce the massive trade surplus that has stoked friction with European neighbours and the United States, the International Monetary Fund warned on Monday. "In 2016 Germany's current account surplus was the world's largest in dollar terms," IMF economists noted in a report. "Policies that boost public and private investment and reduce the need for private saving ... would accelerate the necessary external rebalancing process." US President Donald Trump and EU partners have criticized Germany's trade surplus - the amount by which its exports outweigh its imports - saying that it is costing growth and jobs in their own economies. The IMF said that in the near future, Germany's economy should continue to perform well as foreign demand for its goods compensates for rising prices dampening consumption at home.

Source: The Local May 15, 2017 15:11 UTC