German Economy Minister: Growth now seen at 2.2% this year, 2.5% in 2023, assuming no energy embargo

German Economy Minister Robert Habeck said on Wednesday that German GDP growth in 2022 is now seen at 2.2% and 2.5% in 2023, assuming there is no embargo or blockade on Russian energy imports, reported Reuters. If that was to transpire, he added, there would be a recession this year. 

Habeck added that German dependency on Russian gas is now 35% and said that Germany must be willing to pay the price of higher inflation and slower growth for supporting Ukraine. Ukraine is fighting for its freedom, he noted, before adding that Ukraine is also fighting for "us".