FRANKFURT, Germany (AP) — The German government on Wednesday said it expects to eke out economic growth this year instead of a decline as Europe’s largest economy manages its energy divorce from Russia and shells out support for consumers and businesses hit by higher energy costs. The 2023 outlook improved to an 0.2% expansion from a 0.4% contraction that was expected in October, when Germany feared it would run out of natural gas used to power factories, generate electricity and heat homes this winter. Warmer-than-usual weather helped, as did a scramble to line up additional supplies of liquefied natural gas, or LNG, that comes by ship instead of pipeline from Russia. Russia’s state-owned exporter Gazprom has halted all but a trickle of natural gas to Europe as countries support Ukraine during the war. Germany, one of the countries most dependent on Russian natural gas to power its industry, had no reception terminals for LNG at the start of the year. It now has three floating terminals on its northern coast, at a cost of billions of euros. "We have made the crisis manageable," Vice Chancellor and Economy Minister Robert Habeck said at a news conference. He said that while 0.2%… Read full this story
- Britain to be hit by biggest recession of all the world's largest economies in 2023
- India On Track To Become Third-Largest Economy By 2027, Third-Largest Stock Market By 2030
- Despite Historic Plunge, Europe’s Economy Flashes Signs of Recovery
- Across Europe Attitudes Towards Globalism, Open Borders are Hardening
- Pro-Russian agents working to turn Germany against Ukraine
- Whiplash on Wall Street as Tension About Global Economy Mounts
- Germany’s Inflation Rate Hit a High in 2022
- Opinion | The Indian Economy In 2022 And What We Can Look Forward To In 2023
- India’s economy in 2023: Hope, challenges, and a lot of uncertainty
- The U.S. Economy In 2023: Walking The Tightrope To Avoid Stagflation
- Germany’s Energy Crisis Is a Cue to Chop Wood and Stock Up
- Charting the global economy: China’s slump deepens into year end
Germany sees brighter outlook for Europe's largest economy have 326 words, post on www.sfchronicle.com at January 25, 2023. This is cached page on Konitono. If you want remove this page, please contact us.