**Germany’s GDP Grew by 1.9% in 2022 Despite High Inflation, Economic Stagnation and Energy Crisis**
The Federal Office of Statistics reported this Friday (01.13.2023) that despite high inflation, economic stagnation in the last quarter and a major energy crisis, Germany’s Gross Domestic Product had grown by 1.9% in 2022 compared to 2021.
This news came hardly as a surprise to the general public – economic experts have been implying a degree of optimism provided that the government took tangible steps to alleviate the crisis.
The Minister of Finance and Economic Affairs, Mr. Klaus Welsch, had spoken repeatedly about the need for investment in advanced industry and infrastructure which would serve as a catalyst for economic growth.
The federal government has also taken steps to boost employment opportunities and encourage innovation across Germany in order to further spur economic activity.
The GDP number is a testament to the hard work of the government, industry and the people of Germany.
The country’s ability to respond efficiently to such adverse conditions has come to support higher growth in the next months. This is expected to be realized by the second half of this year.
Initial developments of the reports have been released by dpa and afp.
Now the question is if Germany can manage similar performance for the rest of the year, or if it will slow down in the remaining months of 2022. We expect to find out more in the foreseeable future.