Wed, Jun 29, 2022 @ 15:57 GMT
HomeLive CommentsGermany economy ministry cut 2022 GDP growth forecast sharply to 2.2%

Germany economy ministry cut 2022 GDP growth forecast sharply to 2.2%

Germany’s economy ministry cuts 2022 GDP growth forecast to 2.2%, down from January’s projection of 3.6%. Nevertheless, 2023 GDP growth forecast is upgraded slightly from 2.3% to 2.5%. It expects Russia’s invasion of Ukraine, resulted sanctions and higher energy prices will weigh on output.

Inflation is forecast to be at 6.1% in 2022 and 2.8% in 2023, on rising energy prices and consumer prices.

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