Minister Habeck, the German Minister for Economic Affairs and Climate Protection, spoke to the media at a press conference about the Government’s spring projection on economic development. According to this projection, Germany’s economy may be approaching a turning point this spring, with the government now expecting a growth of 0.3% for the year, an improvement from the February forecast of just 0.2%.
The Economy Ministry stated that they see signs of a slight economic upturn throughout the year, with inflation expected to decline from 5.9% last year to 2.4% in the current year. This decrease in inflation is predicted to help boost household purchasing power and aid in the recovery of private consumption. Looking ahead, the German government is forecasting a GDP growth of 1% in 2025.