The German government plans to raise its forecast for gross domestic product growth in 2007 to 2.3 per cent from its previous target of 1.7 per cent, a government source said today.
The source, confirming a report to appear in Tuesday's Sueddeutsche Zeitung newspaper, also said the government would set a 2008 target of 2.4 per cent GDP growth.
The source, who declined to be identified, said the government would forecast an average unemployment level of around 3.7 million this year, a figure the government expects will fall to some 3.4 million in 2008.
Previously the government had expected an average unemployment level of around 4 million this year. The government is expected to release its revised macroeconomic forcasts on Wednesday.
