The Kiel Institute for the World Economy (IfW) has also lowered its forecasts for the German economy due to the delivery bottlenecks and the fourth corona wave. After an increase in the gross domestic product of 2.6 this year, the IfW economists believe that the economy will only achieve four percent growth in 2022 – 1.1 points less than last assumed. “But it will then go up steeply with 3.3 percent (previously 2.3) in 2023,” it says in a press release. In 2020 the economy shrank by 4.6 percent. “The economic consequences of the pandemic are still sensitive, but they decrease from wave to wave,” said IfW economic director Stefan Kooths.
Economy – IfW also lowers forecast for 2022 – Economy
