The German government has revised its growth forecast in Europe’s largest economy, so that the economy is expected to avoid the risk of falling into a recession this year.
Meanwhile, business confidence in Germany continued to increase in January 2023, the fourth consecutive month of increase amid the economic crisis. energy crisis calm and the possibility that Europe’s leading economy is avoided Depression.
In the German Government’s annual economic report released on January 25, this year, Germany’s Gross Domestic Product (GDP) is expected to grow by 0.2%, up from the forecast of a decline of 0 .4% issued in the fall. Inflation is also forecast to drop from 7% previously to 6% in the context of falling energy prices.
According to Federal Economy Minister Robert Habeck, there are no signs of a recession that many observers previously considered inevitable. Germany has shown good resilience to the crisis and has achieved good results in the economic field.
He emphasized that Germany was able to handle the crisis arising from the war in Ukraine, avoiding the previous pessimistic scenario due to the inability to secure gas supplies. Minister Habeck emphasized that Germany has ensured a stable energy supply and is more independent in energy matters.
[Chính phủ Đức lạc quan về tình hình kinh tế trong nước]
In the labor sector, Germany forecasts unemployment at 5.4% in 2023, up slightly from 5.3% last year. Meanwhile, the business environment index has recovered. Investment in the machinery and equipment sector is forecast to grow 3.3% in 2023, up sharply from 2.5% in 2022. However, despite improved forecasts, export growth Imports are forecast to reach only 2.2% this year after a 3.2% increase last year. Imports are forecast to grow by 1.6%.
The biggest challenges facing the background German economy still war in Ukraineassociated economic consequences, weak global economic health, high energy and consumer prices, and the security of energy supplies.
The results of a survey released on January 25 showed that German business confidence continued to increase for the fourth consecutive month.
According to the Ifo Economic Research Institute, through a survey of about 9,000 companies, the business confidence index in January 2023 reached 90.2 points, up from 88.6 points in December 2022. The index has fallen for several months in 2022 as the war in Ukraine and a sharp reduction in Russian gas exports sent energy and food costs skyrocketing.
The German government’s interventions to limit soaring prices, combined with warmer winter weather and falling energy prices, have helped keep inflation in check.
Manh Hung (VNA/Vietnam+)