German Government Raises 2021 Economic Growth Forecast | Business News

By DAVID RISING, Associated Press

BERLIN (AP) — Germany is raising its economic growth forecast for the year on the expectation of the gradual lifting of coronavirus restrictions and an anticipated rise in domestic spending, the economy minister said Tuesday.

Peter Altmaier said gross domestic product is expected to increase 3.5% in 2021 now, up from a previous forecast of 3%, and that it should grow 3.6% in 2022.

He said that the government’s “comprehensive and quick support” for businesses had paved the way for a return to pre-pandemic levels by next year for Europe’s largest economy.

“Our economy is strong, robust and ready for a new start,” he said.

Last year, Germany’s gross domestic product shrank by 4.9%. That ended a decade of growth and was the biggest decline since the financial crisis in 2009.

It did better than several others in the 19-country eurozone, however, as it was

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German Finance Ministry proposes blockchain-based solution to digitize securities in draft bill

The finance ministry of Germany, Federal Ministry of Finance (BMF), released a draft bill on the introduction of electronic securities (eWpG) on Tuesday, and it includes a blockchain solution to digitize securities. 

The bill would revamp both the German securities law and the corresponding supervisory law with a focus on blockchain strategy, according to a press release published by BMF. 

“With the establishment of digital securities, one of the central components of the federal government’s blockchain strategy and the joint key issues paper of the BMF and the Federal Ministry of Justice and Consumer Protection (BMJV) on electronic securities (eWpG) will be implemented,” the release said. 

Currently, the law dictates that financial instruments classified as securities under civil law “must be securitized in a document.” This document, a paper certificate, currently acts as the source of all facts relating to each security and incorporates details on buyers’ accounts, according to

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