The German Ministry of Economic Affairs and Climate Protection predicts that the country’s GDP growth rate will be below 1% in the coming years and inflation will be 5.9%. writes about this Der Spiegel.
GDP growth rates are expected to be around 0.6-0.8% in the period until 2028. One factor is the retirement of a large generation of baby boomers. The official forecast for Germany’s economic growth in 2024 is currently 1.3%.
Previously, Carsten Brzeski, head of macroeconomic research at ING, the Netherlands’ largest banking group guess Germany’s economic stagnation continues.
There are many negative factors: disruption of supply chains, fluctuations in energy prices, rising inflation rates and reduced Chinese demand for German products.
According to official data from the federal statistical agency Destatis, the German economy shrank by 0.3% compared to last year’s results. Carsten Brzeski described 2023 as a year of permanent crisis for Germany.
Previously Germany’s GDP gone It is in the red after 1.9% growth.