German Economy Minister Robert Habeck announced on Wednesday that Germany's economy is expected to shrink by 0.2% in 2024, down from a previous projection of a 0.3% growth.
While presenting the autumn forecast, Habeck detailed that in 2025 and 2026 the country's gross domestic product (GDP) growth is anticipated to stand at 1.1% and 1.6%, respectively. It is crucial "that the growth initiative is now fully implemented," he stressed.
Inflation in Germany is estimated to be at 2.2% this year, down from the previous projection of 2.4%. In the following year, consumer prices are seen rising 2%, while in 2026 they should increase by 1.9%.
