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This year, the German economy is expected to contract by 0.5%.
Berliner Zeitung reports this.
The IMF attributes the worsened forecast to the weakness of German manufacturing sectors, which have proven to be sensitive to high-interest rates and declining demand.
On the other hand, the Russian economy appears to be doing well, thanks to strengthening ties with Asia, ensuring stability in the Russian external market. It seems that Europe is not as essential for Russia.
The IMF anticipates that the Russian economy will grow by up to 2.2%. This comes after a documented GDP decrease of 2.1% in the previous year.
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