German government expects economy to shrink by 0.2% this year

Germany's economy ministry plans to downgrade its 2024 economic growth forecast, expecting Europe's largest economy to shrink by 0.2%, newspaper Sueddeutsche Zeitung reported on Sunday, APA reports. The forecast for an inflation-adjusted contraction, which the ministry is due to publish on Wednesday, follows a previous government projection of 0.3% growth this year after a 0.3% contraction in 2023. Source: Azeri-Press News Agency