Exclusive-Germany cuts GDP growth forecast to 2.6% for 2021, lifts 2022 estimate to 4.1%

FILE PHOTO: An employee works at the A3 and A4 production line of the German car manufacturer Audi, amid the spread of the coronavirus disease (COVID-19) in Ingolstadt, Germany, June 3, 2020. REUTERS/Andreas Gebert

BERLIN (Reuters) – The German government has slashed its economic growth forecast for this year to 2.6%, but lifted its estimate for next year to 4.1%, two sources told Reuters on condition of anonymity on Tuesday.

The revised government forecast for gross domestic product growth compares with an April prediction for the economy to grow by 3.5% in 2021 and by 3.6% in 2022.

Economy Minister Peter Altmaier will present the updated growth forecasts during a news conference on Wednesday. A spokesperson for the Economy Ministry declined to comment.

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