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Germany on Wednesday lowered its 2025 growth forecast to 0.3%, down from 1.1%, as the country’s stagnant economy continues to struggle.
Economy Minister Robert Habeck announced the new gross domestic product (GDP) estimate in a presentation of the government’s annual economic report in Berlin.
The fall is attributed to the collapse of Chancellor Olaf Scholz’s three-party coalition in November, and the subsequent failure to implement a government initiative to stimulate growth.
Another factor is the potential for US tariffs on goods from the European Union under Donald Trump’s second term.
A slight decline in exports is expected in 2025, with private consumption also remaining weak.
The country’s economic struggles are a major campaign issue ahead of elections next month.
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