Europe's Economy Hit Hard as Energy Price Shock Stifles Demand
23 Articles
23 Articles
The European Commission has halved its growth forecast for Germany. For this year, only a 0.6% increase in gross domestic product is expected. This is the same figure that leading German economic research institutes have recently mentioned.
Due to the economic consequences of the Iran war, the EU Commission has significantly lowered its growth forecast for Germany. According to experts, a slight improvement is not expected until 2027 – and even then, only under certain conditions.
This year, the European Commission expects Germany to only increase its gross domestic product by 0.6 percent. In autumn, they had still forecast growth of 1.2 percent. It could get a little better next year - on one condition.
Deutsche Welle
Against the backdrop of the economic impact of the Iran war, the EU Commission has significantly reduced its growth forecast for Germany. For the euro area, the outlook is hardly better.
The EU Commission expects only 0.6 percent growth for Germany. An energy price shock after the Hormus blockade drives costs and prices. Higher government expenditures should be countered.
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