In his own words, Federal Minister of Economics Peter Altmaier does not expect a booming economy in Germany until next year. “The growth this year will be less than we all imagined,” said the CDU politician on Wednesday in the ARD “Morgenmagazin”. He indirectly confirmed the government forecasts for economic growth in Germany that had already leaked. According to insiders, the federal government is now expecting an increase of just 2.6 percent instead of the 3.5 percent promised in the spring.
Altmaier cited the scarcity of raw materials and the increased energy prices as reasons for this downward correction. The German economy is growing vigorously, said the outgoing head of department. “But it will only really become a boom next year with over 4 percent.” According to insiders, the government is expecting an increase of 4.1 percent, which is 0.5 points more than previously thought.
According to Altmaier, the prerequisite for strong growth in the coming year is that the international supply chains stabilize. More microchips would have to be manufactured in Europe too. The Federal Minister of Economics presented the new economic forecast on Wednesday morning.