ANL 23.10 Decreased By ▼ -0.70 (-2.94%)
ASC 16.10 Decreased By ▼ -0.30 (-1.83%)
ASL 22.25 Decreased By ▼ -0.40 (-1.77%)
BOP 8.55 Increased By ▲ 0.17 (2.03%)
BYCO 8.96 Increased By ▲ 0.15 (1.7%)
FCCL 18.07 Decreased By ▼ -0.40 (-2.17%)
FFBL 24.45 Decreased By ▼ -0.15 (-0.61%)
FFL 17.90 Decreased By ▼ -0.15 (-0.83%)
FNEL 8.40 Decreased By ▼ -0.14 (-1.64%)
GGGL 22.09 Decreased By ▼ -0.21 (-0.94%)
GGL 43.18 Decreased By ▼ -0.77 (-1.75%)
HUMNL 7.02 Decreased By ▼ -0.15 (-2.09%)
JSCL 20.85 Decreased By ▼ -0.73 (-3.38%)
KAPCO 37.90 Decreased By ▼ -0.20 (-0.52%)
KEL 3.61 Increased By ▲ 0.01 (0.28%)
MDTL 3.00 Decreased By ▼ -0.07 (-2.28%)
MLCF 36.30 Decreased By ▼ -0.18 (-0.49%)
NETSOL 153.30 Decreased By ▼ -4.45 (-2.82%)
PACE 5.98 Decreased By ▼ -0.03 (-0.5%)
PAEL 31.20 Decreased By ▼ -0.45 (-1.42%)
PIBTL 9.36 Decreased By ▼ -0.11 (-1.16%)
POWER 7.90 Decreased By ▼ -0.14 (-1.74%)
PRL 20.85 Decreased By ▼ -0.13 (-0.62%)
PTC 10.40 Increased By ▲ 0.02 (0.19%)
SILK 1.67 Decreased By ▼ -0.02 (-1.18%)
SNGP 43.19 Decreased By ▼ -0.56 (-1.28%)
TELE 22.06 Decreased By ▼ -0.64 (-2.82%)
TRG 173.50 Decreased By ▼ -2.41 (-1.37%)
UNITY 36.20 Decreased By ▼ -0.77 (-2.08%)
WTL 3.25 Decreased By ▼ -0.08 (-2.4%)
BR100 4,979 Decreased By ▼ -47.44 (-0.94%)
BR30 24,460 Decreased By ▼ -312.8 (-1.26%)
KSE100 46,636 Decreased By ▼ -284.38 (-0.61%)
KSE30 18,480 Decreased By ▼ -177.85 (-0.95%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,135
6324hr
Pakistan Cases
1,221,261
2,51224hr
4.4% positivity
Sindh
449,349
Punjab
420,615
Balochistan
32,722
Islamabad
103,923
KPK
170,738
World

German economy could grow by 4pc this year: minister

  • Germany's economy had a rough first quarter of 2021, shrinking by 1.7 percent as rising coronavirus infections forced shutdowns to be extended.
03 Jun 2021

BERLIN: The German government expects economic growth of up to four percent this year, Economy Minister Peter Altmaier said Thursday, raising the official forecast as Europe's top economy roars back.

"Germany resisted the recession better than many predicted, growth fell less than in many countries and the recovery started earlier," Altmaier told reporters.

The election-year good news for Chancellor Angela Merkel's right-left government comes just weeks after Berlin had lifted its growth projection for 2021 to 3.5 percent.

Altmaier said recent data made him even more optimistic, calling it "possible that growth will come in somewhere between 3.5 and four percent".

Massive stimulus packages unleashed by the European Union and Germany itself have helped blunt the most severe effects of the pandemic.

The upturn comes after Germany posted a 4.9 percent contraction in 2020, the worst economic report card since the financial crisis of 2009.

Germany's economy had a rough first quarter of 2021, shrinking by 1.7 percent as rising coronavirus infections forced shutdowns to be extended.

The weak start to the year stood in stark contrast with a 0.5 percent expansion in gross domestic product (GDP) recorded in the fourth quarter of 2020, before more contagious virus variants upended Germany's bounce-back.

But recent progress in the country's vaccination campaign and a gradual relaxation of restrictions have fuelled hopes of a swift rebound.

Germany is to go to the polls on September 26 to pick a successor to Merkel, who is retiring from politics after 16 years in office.

Comments

Comments are closed.