BERLIN (Reuters) - Germany is moving in the right direction in striking a balance between economic growth and fiscal consolidation but should continue to look for ways to spur domestic demand, U.S. Treasury Secretary Jack Lew said on Wednesday.
"Over the course of this past year, I think we've seen very constructive movement to get the balance right between fiscal consolidation and growth," he said in a joint news conference with his German counterpart Wolfgang Schaeuble.
"We can continue to discuss where that balance should be but it has moved in the right direction from our perspective over the year," he said, pointing to German plans to introduce a minimum wage and boost investments in infrastructure.
Still, Lew echoed the message that he gave during his last visit in April 2013, saying it was important for countries like Germany, which run large current account surpluses, to take further steps to promote growth in order for Europe and the global economy to rebalance and recover.
"We have made very clear that we think that more domestic demand and investment would be a good thing," he said. "We continue to believe that policies that promote domestic demand would be good for the German economy."
(Reporting by Jason Lange; Writing by Annika Breidthardt; Editing by Noah Barkin)
Federal Judge: I Will Haul The IRS Commissioner Into Court and Personally Hold Him in Contempt Over Lerner Emails | Katie Pavlich
BREAKING: New Undercover Video Reveals Planned Parenthood Willing to Sell Organs From Delivered Babies | Katie Pavlich
Of Course: Court Orders Pro-Life Group To Stop Releasing Videos That Make Planned Parenthood Look Bad | Katie Pavlich
Fmr. Planned Parenthood Director: Biz Is Making $100 to $200 Off Each Fetal Body Part | Brooke Carlucci