4/27, 12:10 PM (Source: TeleTrader)
more TeleTrader news

Altmaier: Economic growth to return despite Q1 slump

German Economy and Energy Minister Peter Altmaier (pictured) said on Tuesday that the country's economic growth will return despite a 1.7% contraction of the GDP in the first quarter.

Altmaier stated that Germany "will not only stop the economic slump," but rather would reverse it. He also asserted that the country's economy would return to pre-pandemic levels earlier than expected in 2022 and that economic forecasts for 2021 and 2022 are still planned to be raised from 3% to 3.5% and 3.6% respectively, slightly lower than previously reported.

Altmaier also lauded Germany's economic policy stating that so far nearly 100 billion euros were distributed in economic aid, with 15 billion euros paid out in direct grants, calling the economic recovery efforts a "success story."

Breaking the News / OL