The war in Ukraine will significantly affect Germany's economic recovery and halve projected GDP growth in 2022 to 2.1%, the iFW Kiel economic institute said on Thursday.
The consequences of the conflict should reduce GDP by “some 90 billion euros [99 billion dollars] this year and next” and “delay the return to the pre-covid-19 level to the second half” of the largest European economy, economists said.
The previous forecast was for 4% growth this year.
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