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Federal Minister of Economics Robert Habeck (Greens)
Photo: Ina Fassbender / AFP
In view of the Ukraine war, the federal government has now also significantly lowered this year's economic forecast: Growth of only 2.2 percent is expected in 2022, as the Federal Ministry of Economics announced on Wednesday.
The government is also anticipating an inflation rate of 6.1 percent this year.
"After two years of the corona pandemic, the war in Russia is adding a new burden," explained Economics Minister Robert Habeck (Greens) as justification.
In its autumn projection, the government had still assumed growth of 4.1 percent for 2022, but in January it estimated growth of 3.6 percent.
At the end of February, the Russian war of aggression in Ukraine began, which is now further clouding the outlook.
The government is also expecting an inflation rate of 6.1 percent this year due to the sharp rise in energy prices.
"Such rates have so far only been observed during the oil crisis or shortly after reunification," the ministry recalled.
mamk/AFP