Households in Germany are affected by inflation to varying degrees depending on their income and the number of household members.
(Photo: dpa)
Berlin The federal government is lowering its growth forecast significantly. For the current one only expects a growth in gross domestic product (GDP) of 3.6 percent, as the Handelsblatt learned from government circles. The “Spiegel” had first reported about it. In the fall, the previous government still expected growth of 4.1 percent this year.
The forecast is part of the annual economic report, which is to be decided in the cabinet on Wednesday. In 2021, the German economy grew by 2.7 percent. This could not compensate for the 4.6 percent slump in the first year of the Corona crisis, 2020.
In particular, the ongoing problems in international delivery traffic and the new wave of corona infections are burdening the economy longer than expected. The research institutes had already lowered their forecasts unanimously in December.
The Institute for Economic Research Halle (IWH) is the most pessimistic with 3.5 percent growth for 2022, according to the Kiel Institute for the World Economy (IfW) there are slightly better prospects with four percent. The revision of the forecast by the federal government is therefore not a big surprise.
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