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The Federal Government has lowered its economic forecast for this year because of the pandemic. Minister of Economic Affairs Robert Dabeck spoke in his annual economic report presented on Wednesday from a difficult economic catch-up phase.

Robert Habeck (Bündnis 90/Die Grünen) stellt den jahreswirtschaftsbericht vor. © Bernd von Jutrczenka / DPA Robert Dabeck (Alliance 90 / The Greens) introduces the annual economic report.

For 2022, the government expects gross domestic product growth of 3.6 percent. The predecessor government was out of 4.1 percent in the fall.

In the first quarter, economic output is expected to be affected by the pandemic and the restrictions, especially in the services, it was said in the report. "With increasing vaccination, it should succeed in recovering pandemies in sustainably and retiring the crisis aids," said the Greens politician Habog. "Then the economic recovery will soon be accelerating."

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2021, the German economy increased again with 2.7 percent growth. However, the increase of less than long as a long hoped for. In the crisis year 2020, economic output was broken by 4.6 percent. In spite of the fifth Corona wave, delivery problems and increased energy prices,

recently returned to news, which gave optimists food. So rose the Ifo business climate, Germany's most important economic barometer, surprising in January. It was the first brightening since the middle of last year. On Wednesday, the economic researchers then announced that the index of export expectations has increased, with 17.4 points even on the highest value since September rose. Particularly significant growth expects the electrical industry and mechanical engineer.

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At the prices, people in Germany may not hope for a rapid relaxation. "Overall, it is expected that the increase in consumer price levels this year with annual average 3.3 percent is again significantly," says in the annual economic report. On average of the past year, consumer prices increased by 3.1 percent. Above all, higher energy costs are heated in inflation.

As an important prize driver, the government sees further supply bottlenecks this year, such as semiconductors. It is only possible to expect a gradual relaxation during the course of the year, it says in the report. Until then, companies may noticeably increase prices. In addition, according to the government, it will come to increased increase in energy prices in the first half of the year compared to the previous year, because these prices increase so much only in the course of the year 2021.

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