German Economy Minister Robert Habeck says he remains optimistic that Europe’s largest economy will find a way out of its current problems next year, after presenting revised figures predicting that gross domestic product (GDP) will fall by 0. 2% will shrink.
“Germany is a country full of strengths,” Habeck said.
Although the economic framework was not satisfactory at the moment, “we will free ourselves from it and work our way out”, the minister said on behalf of the Greens.
Habeck emphasized that Germany is home to innovative mid-sized companies, including global market leaders, well-educated specialists and a vibrant startup scene.
According to the revised government forecast, Germany’s GDP is expected to fall by 0.2% in 2024, meaning Europe’s largest economy is heading for a recession.
This is less than previous estimates of 0.3% growth.
For 2025, Habeck expects GDP to rise by 1.1%, slightly more than the government’s forecast of 1% for 2025 from earlier this year.
In 2023 as a whole, the economy shrank by 0.3%.
