Germany Cuts 2022 Growth Forecast To 3.6% On Virus Woes

Muhammad Irfan Published January 26, 2022 | 04:33 PM

The German government on Wednesday lowered its economic growth forecast for 2022 as an Omicron-fuelled surge in coronavirus cases holds back Europe's industrial powerhouse

Frankfurt, (APP - UrduPoint / Pakistan Point News - 26th Jan, 2022 ) :The German government on Wednesday lowered its economic growth forecast for 2022 as an Omicron-fuelled surge in coronavirus cases holds back Europe's industrial powerhouse.

The country's gross domestic product is now estimated to expand by 3.

6 percent, down from 4.1 percent in a previous forecast, with the economy ministry saying the start of the year "will still be subdued due to the coronavirus pandemic, especially in the service sectors".