Germany facing ‘strong upswing’ – Bundesbank

Deutsche Bundesbank headquarters, Frankfurt
Fabian Stürtz

The Deutsche Bundesbank has significantly increased its GDP growth projection for Germany, forecasting a rapid economic recovery, it announced today (June 11).

In its latest biannual economic projections, the Bundesbank revised up its GDP growth estimate for 2021 from 3% in its December 2020 forecast to 3.7%. The Bundesbank expects GDP to expand by 5.2% in 2022 and by 1.7% in 2023.

“The German economy is overcoming the pandemic-related crisis and is at the beginning of a strong upswing,” says

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