Germany sees brighter outlook for Europe’s largest economy
1 year, 10 months ago

Germany sees brighter outlook for Europe’s largest economy

Associated Press  

FRANKFURT, Germany — The German government on Wednesday said it expects to eke out economic growth this year instead of a decline as Europe’s largest economy manages its energy divorce from Russia and shells out support for consumers and businesses hit by higher energy costs. The improved outlook “didn’t fall from heaven — we accomplished it, this country accomplished it.” Habeck said growth would turn out close to zero for the last months of 2022 and the first part of this year and could be slightly negative. Germany has introduced price caps on electricity and natural gas as part of 200 billion euros in added government spending, enabling people to buy 80% of their heat or electricity at fixed prices. With prospects for Europe’s largest economy looking less gloomy, more economists are now saying the 20 countries that use the euro currency may avoid a shallow technical recession.

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