FRANKFURT (Reuters) – Germany’s financial system ministry plans to downgrade its 2024 financial development forecast, anticipating Europe’s largest financial system to shrink by 0.2%, newspaper Sueddeutsche Zeitung reported on Sunday.
The forecast for an inflation-adjusted contraction, which the ministry is because of publish on Wednesday, follows a earlier authorities projection of 0.3% development this yr after a 0.3% contraction in 2023.
Final month Germany’s main financial institutes downgraded their forecast for 2024 to a contraction of 0.1%.
The financial system ministry didn’t instantly reply to a request for remark.
The ministry, led by Robert Habeck of the Inexperienced get together, additionally plans to situation a forecast for 2025 financial development of 1.1%, up from 1% forecast beforehand, and for 1.6% development in 2026, banking on a bundle of presidency measures to stimulate development, Sueddeutsche reported with out citing sources.
