(Finance) – Il German government And ready to cut his forecasts of growth for Europe’s largest economy and now expects no expansion this year. Bloomberg writes, citing people familiar with the matter.
Berlin officials are set to lower their 2024 growth forecast to – at best – stagnationdown from the 0.3% previously forecast, said the people interviewed by the agency, who received a no comment from a spokesperson for the Ministry of Economy, who will soon present the government’s updated forecasts in Berlin.
The prospect of no growth would be an admission of failure by the coalition government and another blow to Chancellor Olaf Scholzwho has not seen the economy expand for two consecutive quarters since he took office in December 2021.
This is not a simple period for the German economy, with Volkswagen which cut its estimates for the whole of 2024, after threatening to close factories in Germany, while the US Intel has decided to postpone a 30 billion euro investment decision for a new chip plant in the country.