View of the Brandenburg Gate in Berlin. File photoBERLIN, Apr 12 Germany's leading economic institutions predict a shrinking economy and a severe recession in 2023 in the event of a halt in energy supplies from Russia, the Handelsblatt newspaper reported, citing a joint forecast prepared for the German Ministry of Economy, excerpts from this document is at the disposal of the editors of the newspaper. «In this case (we are talking about the rejection of energy from Russia — ed.), the German economy is likely to face a severe recession next year,» Handelsblatt quotes from the forecast.
WTO downgrades forecast for global GDP growth in 2022According to experts, in the event of an immediate embargo, Germany's GDP could fall by 2.2 percent in 2023, the strongest economic a decline is expected in the second quarter of next year — with a minus of almost five percent. According to the forecast, the number of unemployed in Germany may increase by 418 thousand people from Compared with the previous year, the annual inflation rate will be five percent.
