Germany to Raise Economic Performance Forecasts for 2020

The government of Germany is set to revise upwards its expectations for the gross domestic product (GDP) in 2020, Reuters reported on Monday.

Berlin foresees GDP to contract by 5.5% this year, down from a previous estimate of a 5.8% contraction.

The revision is expected to be presented to the general public later this week.

As for next year, the German government expects to achieve a growth rate of 4.4%.