German government raises 2021 economic growth forecast

Germany is raising its economic growth forecast for the year on the expectation of the gradual lifting of coronavirus restrictions and an anticipated rise in domestic spending

BERLIN -- Germany is raising its economic growth forecast for the year on the expectation of the gradual lifting of coronavirus restrictions and an anticipated rise in domestic spending, the economy minister said Tuesday. Peter Altmaier said gross domestic product is expected to increase 3.5% in 2021 now, up from a previous forecast of 3%, and that it should grow 3.6% in 2022. He said that the government's “comprehensive and quick support” for businesses had paved the way for a return to pre-pandemic levels by next year for Europe's largest economy. “Our economy is strong, robust and ready for a new start,” he said.