German Economy will grow slightly this year. This is the revised forecast for European Commission (EC) following Europe’s largest economy had more positive signals in the first months of the year.
According to the Vietnam News Agency correspondent in Berlin, in the winter forecast published on February 13, the EC said growth gross domestic product (GDP) of Germany may reach 0.2% in 2023, instead of 0.6% decline as forecasted in the fall, when energy prices are high and supporting policies for households and businesses not yet implemented.
According to the above adjustment, Germany’s GDP decreased by 0.2% in the fourth quarter of 2022. Although confidence has improved over the past few weeks, the economy is forecast to experience a slight contraction in early 2023, as energy prices for households remain rising and the government’s support package continues to grow. the government in January and February 2023 will not be disbursed until March.
[Destatis: Lạm phát của nền kinh tế Đức tăng trở lại sau hai tháng giảm]
Previously, on February 10, the Federal Statistics Office (Destatis) released a report that following two months of decline, inflation in Germany increased to 8.7% in January 2023.
Fritzi Koehler-Geib, chief economist at the German Bank for Development and Reconstruction (KfW), said that although the inflation peak may have passed, it is still too early to say that everything is clear and inflationary. development “has touched every corner of the economy.”
The German government forecasts inflation in 2023 to fall to 6%. According to the economy ministry, inflation will remain above historic levels this year, but a trend reversal has already begun.
Inflation in Europe’s largest economy rose to a record 10.4% in October 2022 and fell to 8.6% in December, according to official data.
Phuong Hoa (VNA/Vietnam+)
