Germany Sees Economy Growing by 3% in 2021

The German government revised its expectations for economic growth in 2021 downwards to 3%, down from a previously estimated growth rate of 4.4%.

Another lockdown as part of the preventive measures against the spread of the Coronavirus pandemic has left its toll on the biggest economy in Europe, as shown by the new expectations released on Wednesday.

However, the government sees an improvement amid the rollout of vaccines.

“We are currently seeing a flattening of the number of infections, which is giving hope,” Germany’s Minister of Economy Peter Altmaier was quoted by Reuters as saying.

“The picture is divided, while industry currently continues to be robust, the service sector is badly affected.”

“We must therefore not gamble away what has been achieved.”

The German government, led by Chancellor Angela Merkel, recently decided to maintain the lockdown until mid-February.