The income of the Germans will shrink – economy

The four leading economic research institutes presented gloomy forecasts for economic development in Germany last week. According to this, the local economy will grow by just 1.4 percent this year, and for 2023, in view of the war, corona and the ongoing pandemic, experts are even predicting a decline in real gross domestic product (GDP) of 0.4 percent. The only problem is: as bad as the numbers may be, they are still embellished. The truth is that the loss of prosperity will be considerably greater than is reflected in the official statistics and forecasts. Or to put it another way: the income generated by Germans will by no means grow by 1.4 percent in 2022, but will instead shrink by 1.3 percent. In 2023, the minus is likely to be around 4 percent.