The 'energy crisis is solved' and the German economy is safe, Bundesbank's Nagel says

Germany's energy worries are over and Europe's largest economy has the 'inherent strength' to recover, Bundesbank President Joachim Nagel says.

The International Monetary Fund on Tuesday projected the German GDP will contract by 0.1% in 2023 before expanding by 1.1% in 2024.

Germany's energy worries are over and Europe's largest economy has the "inherent strength" to recover from the dual shocks of the pandemic and the war in Ukraine, according to Bundesbank President Joachim Nagel. Central to concerns about the economic outlook for Germany and the wider continent over the past year has been the potential for an energy crisis, asfollowing Moscow's full-scale invasion of Ukraine.

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