German economic institutes reported on Wednesday they have revised Germany's economic growth forecast for this year from 4.8% to 2.7%, with the key challenge related to the Russian energy supply to the country.
In the same report, research institutes estimated annual inflation in Germany will hover around 6.1% this year and decline to 2.8% in 2023, the year throughout which the economy is expected to expand by 3.1%.
The data was widely influenced by the Ukraine crisis and the coronavirus pandemic, the release concluded.
