The Bundesbank expects an economic slump in the coming year and high inflation rates beyond 2023. “Economic output is likely to shrink initially, but we expect a gradual recovery from the second half of 2023,” said Bundesbank President Joachim Nagel, explaining the latest forecasts from the central bank. However, the energy crisis is increasing inflation in Germany. After growth of 1.8 percent in the current year, the experts at the Bundesbank expect gross domestic product (GDP) in Germany to decline by 0.5 percent in 2023. High energy costs as a result of the Russian war of aggression are burdening companies and consumers.
Bundesbank – Economic slump expected – Economy
