“The level of GDP in the fourth quarter of 2022 decreased by 0.2% compared to the previous reporting period.
Most likely, in the first quarter of 2023, GDP will continue to decline due to high inflation and low industrial production and exports," TASS quoted the financial institution as saying.
A significant improvement in the situation in the foreseeable future is not to be expected, experts of the financial institution noted.
In January, annual inflation in Germany accelerated to 8.7%.