# German govt to slightly raise 2023 GDP forecast – sources
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-04-20
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: German government to slightly raise 2023 GDP forecast
Meta Description: German government to announce adjusted economic growth predictions for 2023, surpassing initial estimates. Inflation forecasts to be tweaked as well.
URL: https://financedigest.com/german-govt-to-slightly-raise-2023-gdp-forecast-sourceshtml

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German govt to slightly raise 2023 GDP forecast – sources

By Holger Hansen

BERLIN (Reuters) -The German government is set to slightly raise its economic growth forecast for this year to 0.4% from its previously predicted 0.2%, two sources told Reuters on Thursday.

For 2024, the government will slightly lower its prediction, to 1.6% from the 1.8% foreseen in January, the sources said.

[Inflation forecasts](https://www.financedigest.com/polish-e-commerce-leader-allegro-trims-forecast-over-inflation-fears.html "Polish e-commerce leader Allegro trims forecast over inflation fears") will also be tweaked down, with the rates for both 2023 and 2024 now seen 0.1 percentage point lower, at 5.9% and 2.7%, respectively.

An [Economy Ministry spokesperson did not comment and said Economy Minister](https://www.financedigest.com/italys-giorgetti-gets-melonis-backing-to-be-economy-minister.html "Italy’s Giorgetti gets Meloni’s backing to be economy minister") Robert Habeck would present the spring economic projections next Wednesday.

With the new projections, the [government is slightly more optimistic than the five economic](https://www.financedigest.com/economic-outlook-has-darkened-business-and-government-leaders-warn-in-davos.html "Economic outlook has ‘darkened’, business and government leaders warn in Davos") institutes that prepare the Joint Economic Forecasts, which foresee 2023 economic growth of 0.3%.

In the Joint [Economic Forecasts](https://www.financedigest.com/uk-minister-says-government-will-work-with-obr-on-economic-forecasts.html "UK minister says government will work with OBR on economic forecasts"), which are incorporated into the ministry’s forecasts, the institutes predict inflation of 6.0% in 2023, before slowing to 2.4% in 2024.

(Reporting by Holger Hansen, Writing by Miranda Murray, Editing by Rachel More)


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