Germany has downgraded its forecast for GDP growth for the year to 0.2% – Kommersant
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Today, February 21, German Ministry of Economic Affairs presented revised forecast for 2024 – it lowered the forecast for GDP growth from 1.3% to 0.2%. This is attributed to global economic instability, geopolitical uncertainty, weak global trade growth, high inflation and rising interest rates.
Economy Minister Robert Habeck said that the German economy’s recovery from the crisis is slower than previously expected. At the same time, the Ministry of Economy expects a significant slowdown in inflation this year: from 5.9% in 2023 to 2.8%. Last year, Germany’s GDP grew by 0.3%.
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