German government lowers 2022 growth forecast to 2.2%

BERLIN

The German government lowered its 2022 economic growth forecast to 2.2% due to the negative impact of the Russia-Ukraine war.

The previous forecast made in January was 3.6%, while the government estimates 2023 growth to come at 2.5%.

The government also expects inflation in Germany to average 6.3% this year and 2.8% next year.

Germany, the largest economy in Europe, posted a growth of 2.7% last year.

*Writing by Ovunc Kutlu in Ankara