The German government expects the economy to grow 0.2 percent this year, well below a previous forecast of 1.3 percent, as hopes for a quick recovery are dimmed by weak global demand, geopolitical uncertainty, and continued high inflation.
Europe's largest economy contracted 0.3 percent in 2023 and there are high expectations that it will enter another technical recession in the first quarter of this year.
According to government forecasts, the German economy still finds itself in turbulent waves at the beginning of the year. The government included high inflation rates and the resulting decline in purchasing power among the challenges facing the German economy, as well as geopolitical crises and high-interest rates.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
