The German government has downgraded its growth forecast

By: Trademagazin editor Date: 2021. 01. 27. 11:01

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The German federal government has revised its economic forecast downwards, with the forecast presented on Wednesday showing that Germany’s gross domestic product (GDP) could grow by 3 percent this year instead of the previously expected 4.4 percent.

The development of the European Union’s (EU) largest economy depends on the evolution of the coronavirus pandemic, said Economy Minister Peter Altmaier in a Berlin briefing. The number of new infections registered each day is hopefully declining, but the spread of new virus mutations that are more contagious than before is a serious threat, so the situation remains serious – he added. (MTI)