Posted 10/12/2023, 10:59:52 AM
Germany Facing Recession in 2023 But Recovery Expected in 2024-2025: Economics Minister Blames Energy Crisis, ECB Policies
- Germany projected to be only major economy with negative growth in 2023 (-0.4%)
- Economics minister blames aftermath of energy crisis, ECB inflation fight, weak partners
- Germany needs to cut bureaucracy to aid recovery, per minister
- Growth expected to return in 2024 (1.3%) and 2025 (1.5%)
- Inflation set to fall from 6.1% in 2023 to 2.6% in 2024 and 2.0% in 2025
