20.07.201700:58:00UTC+00German Economy Set for Solid Growth - Finance Ministry

The German economy is doing well and is set for strong growth in spite of external risks like the uncertain outcome of Brexit talks and U.S. President Donald Trump's future trade policies, according to the German Finance Ministry.

Germany's gross domestic product likely grew in the second quarter by a similar rate as in the previous quarter when the economy expanded by 0.6 percent on the quarter, it said.

The Federal Statistics Office is set to publish preliminary second quarter GDP growth figures in mid-August.

The International Monetary Fund increased its growth forecast for the German economy. It currently expects it to grow by 1.8 percent this year and by 1.6 percent in 2018 in real terms.

The German government remains more cautious and has retained its estimates of 1.5 percent for this year and 1.6 percent for 2018, non-adjusted for workdays.