Germany cuts its growth forecast due to the war in Ukraine


The german government expects lower growth and inflation almost twice as high as forecast for 2022 due to the war in ukrainewhich particularly weighs down its economy, according to new forecasts released on Wednesday.

The Gross Domestic Product (GDP) would increase this year 2.2%, against 3.6% forecast in January, and inflation will reach 6.1%, against 3.3% previously expected, indicated the Minister of Economy Robert Habeckat a press conference.

“The risks weighing on the situation are getting worse. After two years of pandemicthe Russian war against Ukraine adds extra weight,” he said.

Germany “pays the price” for its support for UkraineHabeck said. “We must be ready to pay the price,” he added.



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