Skip to content
Magazine
Saturday, August 2, 2025
SUBSCRIBE
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
SUBSCRIBE

German government revises GDP growth forecast from 4.4% to 3%

Shiva Singh by Shiva Singh
29 January 2021
in Belgium Business And Economy News

Brussels (Brussels Morning) The German government this week revised its GDP growth forecast for this year from the 4.4% expected in October last year to 3%, according to DW reporting.

Germany’s Minister for Economic Affairs and Energy, Peter Altmaier, noted the forecast had been lowered due to the expected impact of coronavirus pandemic lockdowns. He also pointed out that with new infection figures apparently plateauing there was cause for hope.

Altmaier’s comments

Industry is doing well despite the coronavirus crisis, while the services sector struggles under the restrictions imposed at the end of 2020. Germany is doing well compared to other countries, he noted, and must continue to do whatever it takes to maintain economic growth.

According to Altmaier, the government should do it best to minimise the bureaucratic obstacles and red tape that companies are faced with in order to help efforts aimed at securing GDP growth. So far, since the onset of the pandemic, the government has manage to keep the economy running and prevent major loss of jobs, he asserted.

“I assume that, as things stand and so long as there are no unexpectedly drastic changes, we are on safe ground with the forecast of 3%, that if the economy progresses well there might be one or two tenths of a percentage point more, and that we can expect the upswing to continue in 2022,” Altmaier declared.

Background

Germany’s Chancellor Angela Merkel and local leaders agreed earlier this month to extend the lockdown at least until mid-February. The German government decided to close bars, restaurants and leisure facilities at the start of November, and tightened the lockdown in mid-December by closing non-essential shops and schools.

While the country was relatively successful at dealing with the first wave of the pandemic, it lost grip on the spread of the virus in the autumn and winter. The number of daily new infections in Germany has been declining in the last month or so, but authorities fear new virus variants could reverse positive trends.

Related News:

  • German Federal Bank revises 2022 growth forecast downwards
  • IMF lowers global GDP growth forecast for 2022, 2023
  • IMF lowers global GDP forecast to 4.4%
  • UN lowers global GDP forecast, blames Russia
Tags: GDP growthGerman economyNews
Next Post

What Magnitsky Act?

Latest post

EU-elections-UK

EU elections: UK looks on from the “outside”

1 year ago
Galeries-Royales-Saint-Hubert

What Makes Galeries Royales Saint-Hubert an “Institution”?

1 year ago

Most Read

    Follow Brussels Morning
    Facebook Twitter Youtube Linkedin

    Browse Important News

    Belgium News
    Brussels News
    Culture and Society News
    Economy News
    EU Institutions News
    European Commission News
    European Council News
    European Parliament News
    Europe News
    Health And Fitness News
    Southeast Europe News
    Sustainable Perspective
    World News
    Diplomacy News
    US Elections News

    About Us

    Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

    More Info

    • About Us
    • Advertise With Us
    • Contact Us
    • Cookies Policy

    Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2024

    No Result
    View All Result
    • Home
    • About Us
    • Belgium News
      • Belgium Police News
      • Brussels News
    • Brussels Bubble
      • European Parliament News
      • European Commission News
      • European Council News
    • Wider Europe
      • Member States
    • World News
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT