In his own words, Federal Economic Minister Peter Altmaier does not expect a booming economy in Germany until next year. “Growth this year will be lower than we all imagined,” the CDU politician told the ARD “Morgenmagazin” on Wednesday. He indirectly confirmed the government’s forecasts for economic growth in Germany that had already been leaked. According to insiders, the federal government now expects an increase of just 2.6% instead of the 3.5% promised in the spring.
Altmaier cited the scarcity of raw materials and rising energy prices as the reasons for this downward correction. The German economy is growing strongly, said the outgoing department head. “But it won’t really become a boom until next year at over 4 percent.” According to insiders, the government expects an increase of 4.1%, or 0.5 points more than expected.
The prerequisite for strong growth in the coming year, according to Altmaier, is for international supply chains to stabilize. More electronic chips are also expected to be manufactured in Europe. The Federal Minister of the Economy presented the new economic forecasts on Wednesday morning.