German economy will shrink, but Putin will fail at economic war - Economy Minister Habeck

Record ID: 1692900

  • Title: German economy will shrink, but Putin will fail at economic war - Economy Minister Habeck
  • Date: 12th October 2022
  • Summary: FRANKFURT, GERMANY (FILE - APRIL 27, 2022) (REUTERS) VARIOUS OF SHOPPERS AT OUTDOOR FRUIT AND VEGETABLE MARKET
  • Embargoed: 26th October 2022 15:08
  • Keywords: German Vice Chancellor Economy Minister Robert Habeck Ukraine war impact economic outlook projection inflation recession
  • Location: FRANKFURT, BERLIN, REHDEN & MUNICH, GERMANY
  • City: FRANKFURT, BERLIN, REHDEN & MUNICH, GERMANY
  • Country: Germany
  • Topics: Europe,Economic Events
  • Reuters ID: LVA001166612102022RP1
  • Aspect Ratio: 16:9
  • Story Text: Germany's economy will fall into recession, shrinking 0.4% in 2023 compared to the 2.5% growth previously forecast, due to an economic war Russia's President Vladimir Putin was waging, German Economy Minister Robert Habeck said on Wednesday (October 12).
    Unveiling the government's latest economic forecasts, Habeck told a news conference that the contraction, though serious, was less than many experts had expected would be the result of a cut to Russian gas supplies, thanks to the measures Berlin had taken to protect the economy.
    Attacks on critical infrastructure are high on the German government's agenda after suspected sabotage on the Nord Stream 1 and 2 gas pipelines, Habeck added.
    The pipeline leaks were a deliberately inflicted event “so strategic and so difficult to carry off that it could not have been a private actor", Habeck told reporters in Berlin.
    (Production: Tobias Schlie, Michele Sani)
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2022. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register