Germany Downgrades Growth Forecast For 2021: Minister

Germany downgrades growth forecast for 2021: minister

Berlin, (UrduPoint / Pakistan Point News - 27th Oct, 2021 ) :The German economy, Europe's biggest, is projected to expand by around 2.6 percent this year, a slower-than-expected rebound from a pandemic-induced slump last year, largely due to bottlenecks in global supply chains, Economy Minister Peter Altmaier said on Wednesday.

The German government had originally been pencilling in gross domestic product growth of 3.5 percent for 2021, but has downgraded the forecast "because lots of goods cannot be delivered as there are shortages of raw materials in many areas," Altmaier told ZDF public television.

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