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Berlin (dpa) - The federal government expects a more difficult and longer way out of the corona-related economic crisis.
She is screwing down the economic forecast for this year.
Further economic development will continue to be significantly influenced by the course of the pandemic and the containment measures, according to the annual economic report.
This is available to the German Press Agency.
Economy Minister Peter Altmaier (CDU) presented the report on Wednesday afternoon.
After a 5.0 percent slump in economic output last year, the German government expects gross domestic product to grow by 3.0 percent this year, according to the report.
The economic output before the crisis is unlikely to be reached again until mid-2022.
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In his autumn forecast presented at the end of October, Altmaier had expected GDP to rise by 4.4 percent for 2021.
At that time it was said that the pre-crisis level would not be reached again until the turn of the year 2021/2022 at the earliest.
In view of the high number of infections, the federal and state governments decided to take drastic measures with effect from November, such as the closure of restaurants and retail stores.
According to the annual economic report, the lockdown caused a significant slowdown in economic momentum.
It can be assumed that economic performance will still be significantly affected by the pandemic in the first quarter.
It goes on to say: "As the pandemic situation continues to stabilize by vaccinating larger population groups and removing restrictions on public life, the economy should pick up speed again."
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The annual projection is based on the assumption that the lockdown, which was tightened in December, will continue into February and that value creation will gradually start up again in the areas affected.
The lockdown is currently limited to mid-February.
In view of the risk of mutated corona variants, it is also possible that the lockdown will be extended again.
Altmaier has long been criticized by business associations.
You accuse him of slow implementation of government financial aid for companies and too much bureaucracy.
The federal government had announced improvements.
According to the annual economic report, the development of the economy will initially be divided into two parts.
A service sector that is more dependent on social contacts and therefore more severely affected by the pandemic is contrasted by a robustly developing industry.
In the course of the year, the gradual overcoming of the corona pandemic and a recovery in the service sectors can be expected.
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The positive development on the labor market observed before the second lockdown is unlikely to continue until spring.
"Rising employment and wages will then ensure income increases and support private consumption."
The International Monetary Fund (IMF) had also lowered its growth forecast for Germany for the current year, by 0.7 percentage points to 3.5 percent.
Only last week, the IMF certified Germany's comparatively good corona crisis management in a separate country study, but at the same time warned not to discontinue economic aid too early.
© dpa-infocom, dpa: 210127-99-187296 / 3