SHAFAQNA FUTURE- The German government Wednesday cut its growth forecast for this year, but said that Europe’s biggest economy remains robust and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6 percent, down from the 4.1 percent Germany’s previous government forecast in late October, cnbctv18.
The consequences of the coronavirus pandemic are still noticeable and many companies still have to struggle with them, Economy Minister Robert Habeck said in a statement. Nevertheless, our economy is still robust. Germany’s national statistics office has estimated that output in Germany fell by between 0.5 percent and 1 percent in last years final quarter. Forecasts are also shaky for the current quarter, raising the possibility of a technical recession. But hopes are high that the picture will improve as the year progresses. On Tuesday, a closely watched survey showed business confidence unexpectedly picking up in January after a six-month slide.