(ANSA) - BELGRADE, FEB 25 - "A third consecutive year of no growth is not to be ruled out," said Joachim Nagel, president of the German Bundesbank, in his annual report on the German economy. "It is certainly possible to expect a slight economic improvement this year, but a significant recovery is not in sight," he added, noting that "risks for international trade and geopolitics influence this." (ANSA).