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Developed Economies

Donald Trump’s election victory to hardly affect Europe’s economy

German finance experts believe Donald Trump’s election as U.S. president will only have minor effects on Europe’s economy, a recent survey showed.

According to a survey conducted by the Center for European Economic Research (ZEW), the U.S. economic policy changes pursued by the Trump administration will have rather small effects on Member States of the European Union with regard to economic growth, consumption and investment.

The survey, which polled around 200 finance experts as part of the financial market survey in December 2016, show 86 percent of the experts expect there will be positive effects on economic development in the U.S. after Trump’s election victory.

However, most experts expect the U.S. will reduce its foreign trade after Trump takes office.

Altogether 66 percent of experts in the ZEW survey forecast that Trump’s forthcoming presidency is associated with a further increase of U.S. national debt. Enditem

Source: Xinhua/NewsGhana.com.gh

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