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2023 04 20T115803Z 1 LYNXMPEJ3J0IE RTROPTP 4 GERMANY ECONOMY GDP - Business Express

German govt to slightly raise 2023 GDP forecast – sources

German govt to slightly raise 2023 GDP forecast – sources

By Holger Hansen

BERLIN (Reuters) -The German government is set to slightly raise its economic growth forecast for this year to 0.4% from its previously predicted 0.2%, two sources told Reuters on Thursday.

For 2024, the government will slightly lower its prediction, to 1.6% from the 1.8% foreseen in January, the sources said.

Inflation forecasts will also be tweaked down, with the rates for both 2023 and 2024 now seen 0.1 percentage point lower, at 5.9% and 2.7%, respectively.

An Economy Ministry spokesperson did not comment and said Economy Minister Robert Habeck would present the spring economic projections next Wednesday.

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With the new projections, the government is slightly more optimistic than the five economic institutes that prepare the Joint Economic Forecasts, which foresee 2023 economic growth of 0.3%.

In the Joint Economic Forecasts, which are incorporated into the ministry’s forecasts, the institutes predict inflation of 6.0% in 2023, before slowing to 2.4% in 2024.

(Reporting by Holger Hansen, Writing by Miranda Murray, Editing by Rachel More)


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