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German government has been reviewed up its economic forecasts with The largest in Europe economy It is now expected narrowly avoid slack this year With inflation receding, according to the published annual economic report on Wednesday.
It said that GDP is expected to grow by 0.2% this year up Autumn forecast of 0.4% decline.
Inflation is expected to reach 6%. in 2023, down from a previous forecast of 7%, as energy prices retreat after the initial shock of energy crisis triggered From the Ukraine war.
“There are no signs of Economy Minister Robert Habeck said the Great Recession, which many observers have long viewed as inevitable, said in the report.
While the energy crisis and the interests of central banks rate Hiking makes German government caution for This year, Hapc said the crisis triggered by the Russians invasion of Ukraine was now under control. “Germany has proven its resilience and has done very well economically,” he said. he added That very pessimistic scenario at first, with A historic recession is feared in the event of Gas shortage was averted.
“Power supply remain Safe and stable “, but now the task is to become equal more He said independently actively. Germany’s unemployment rate is 5.4%. in 2023, just over 5.3% in 2022, the report said.
companies also The Ministry of Economy said.
On Wednesday, IFO is closely watched business The climate index recovered further, driven by considerably less pessimistic expectations.
Machines equipment was the investment also It is expected to grow by 3.3%. in 2023, after 2.5% growth Previous yearaccording to government weather forecast.
despite of improved Look, the headwind remained. export growth This is expected to slow to 2.2% year after the increase of 3.2% last year, the report said. Among the largest challenges for the economy is war in Ukraine and its economic consequences, the weaker economic situation globally, constantly rising energy prices and consumers security of gas supply, it added.
Germany revised expectations, is expected to be narrow avoid Recession in 2023
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