German economy will shrink, but by less than many expected - Economy Minister

Germany's economy will fall into recession, shrinking 0.4% in 2023 compared to the 2.5% growth previously forecast, thanks to an economic war Russia's President Vladimir Putin was waging, German Economy Minister Robert Habeck said on Wednesday.

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.