Berlin confirms that Germany will definitely enter recession in 2023. Gross domestic product is expected to fall 0.4%. Inflation should be 7%. Figures given by German Economy Minister Robert Habeck at a press conference on 12 October.
IMF predicts Germany and Italy will enter recession in 2023
“The energy crisis is turning into an economic crisis”, explains the minister. Several economic institutions have already alerted on the subject since the start of the school year in September 2022. In particular the IMF which gave its growth forecasts a few hours earlier. Italy could also tip into recession.
For 2022, the growth of the first economy of the European Union has been revised downwards, to 1.4%, and inflation upwards, to 8.0%. Nearly 68,000 Alsatians are cross-border workers who work in Switzerland or Germany.