The German economy is performing “dramatically bad”, the country’s economy minister Robert Habeck (Greens) said at a trade fair in Leipzig on Wednesday (14 February), with the government now only expecting a 0.2% growth rate for 2024.
Last year, Germany posted the worst performance across all major global economies, with a GDP contraction of 0.3%, exacerbating concerns over the deteriorating health of Europe’s largest economy.
While politicians and business leaders had hoped 2024 would bring a more positive outlook – with the German government until recently projecting a growth rate of 1.3% over the course of this year – Habeck’s remarks, reported by FAZ earlier on Wednesday, point to a much bleaker scenario.
The government is now set to slash its forecast to 0.2%, Habeck said – conveying a “drammatically bad” situation.
The growth estimate…
