Germany has slashed its forecast for economic growth for next year. It has cut it to just 0.2 percent. Previously it had been expecting GDP growth of 1.2 per cent. The German Economy Minister Michael Glos said the reason for the reduction is the impact of the global financial crisis. His ministry is sticking with its forecast for growth of 1.7 percent for this year, but said there is now a high degree of uncertainty about its projections for 2009.
Berlin cuts 2009 GDP growth prediction