Germany's gross domestic product declined by 0.3% in the first quarter of 2023 after a decline of 0.5% in the fourth quarter of 2022, although German Chancellor Olaf Schultz described the outlook for the economy as "very good", but experts say that this A "rough awakening" for the country and the entire continent.

The decline in GDP for two consecutive quarters puts the country in front of the specter of recession.

In previous statements, German Finance Minister Christian Lindner said that German GDP data showed "surprisingly negative signs."

Lindner added that by comparing Germany to other highly developed economies, it is clear that Berlin is missing out on growth potential.

"I don't want Germany to play in the league where we have to lower ourselves to the bottom," he said, referring to forecasts by the International Monetary Fund, which predicted a recession in 2023 only in Germany and Britain among European countries.
Source: Agencies