BERLIN, Jan 29 Germany is one of the most hard hit by the crisis, said European Commissioner for the Economy Paolo Gentiloni.
«Germany is one of the countries most affected by the crisis. But overall, the situation is better than expected in the fall (2022 — ed.). The new definition is «slight contraction», not «deep recession», Gentiloni said in an interview with the Frankfurter Allgemeine Zeitung newspaper.
According to him, the peak of inflation has passed, and various barometers of sentiment, both internal and external, are in good condition.
He noted that six months ago there was talk of blackouts, deep recession and stagflation «Now we expect a much shorter contraction period and then a subdued growth phase,» the European Commissioner concluded.