German Economy Minister Peter Altmaier said on Wednesday that the national economy was expected to expand 2.6% this year, down from 3.5% anticipated in spring
BERLIN (Pakistan Point News / Sputnik - 27th October, 2021) German Economy Minister Peter Altmaier said on Wednesday that the national economy was expected to expand 2.6% this year, down from 3.5% anticipated in spring.
"This prognosis is quite definitive because it's already October, and 2.6% is lower than what was predicted in spring... Next year, we expect to see a 4.1% growth," he told a press conference.
Altmaier attributed the discrepancy to bottlenecks in global supply chains and soaring energy prices, which he said put a damper on national economies worldwide.
The revised economic outlook suggests that the German economy could return to the pre-pandemic levels at the end of the first quarter of 2022, three months later than originally thought, the minister explained.
