IfW has lowered its German GDP growth forecast for this year

German Economic Research Institute expects lower economic growth than before

According to a forecast published on the institute’s website on Thursday, researchers expect German gross domestic product to grow 2.6 percent this year, compared to the 3.9 percent growth forecast made in the previous forecast. However, the German economy will try to bring this year’s lag next year, when it will take a 5.1 percent growth momentum instead of the 4.8 percent expected so far. The growth rate will then slow to 2.3 percent in 2023. (MTI)