German Council of Economic Experts: economy will shrink in 2023
According to the German Council of Economic Experts, the German economy will shrink by 0.4 percent this year. On Wednesday in Berlin, the "economic experts" predicted a slight recovery for the coming year with growth in gross domestic product of 0.7 percent.
The economic experts also highlighted that inflationary pressures might lead to an increase in prices, particularly in the energy sector. Consequently, the challenging economic situation could put a strain on household budgets in 2023.
Source: www.dpa.com
