(The Local DE)
The German government said Wednesday it expected Europe’s top economy to grow by three percent this year, less than previously forecast, as longer virus shutdowns slow the pandemic recovery.
Back in October, the economy ministry was still forecasting a gain of 4.4 percent for 2021.
But a second coronavirus wave that took hold late last year and a sluggish start to vaccine rollouts across the European Union have doused hopes of a strong rebound in the early months of 2021.
Presenting the annual economic report in Berlin, Economy Minister Peter Altmaier said it would take “until the second half” of 2022 for the German economy to return to pre-pandemic levels.