Germany can avoid recession

12/14/2022

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2022.12.14 04:41

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German recession will be milder than expected: Ifo

Germany can avoid recession

Budrigannews.com – Germany’s downturn will be surprisingly gentle, with the economy expected to decrease by 0.1% in 2023 contrasted with a past estimate of contracting by 0.3%, the Ifo financial organization said on Wednesday.

In 2022, the economy is expected to expand by 1.8%, up from the previous estimate of 1.6%. According to a statement from Ifo, inflation is expected to reach 7.8% this year, 6.4% the following year, and 2.8% in 2024.

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Monetary development is supposed to quickly return to 1.6% in 2024.

Timo Wollmershaeuser, the head of forecasts at Ifo, stated, “The gross domestic product shrinks in the two quarters of the winter half-year 2022/23, but then it goes up again.”