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German economy 'still struggling' – Bundesbank chief

FRANKFURT: The German economy is set to shrink in 2023 after a weak start to the year and as consumers continue to rein in spending because of stubbornly high inflation, Bundesbank president Joachim Nagel said on Friday.

Europe's largest economy is projected to contract by 0.3 percent in 2023, according to the central bank's newest forecasts.