BERLIN, Jan. 30 (Xinhua) -- The German government has lowered its official national gross domestic product (GDP) growth forecast for 2019 to 1 percent on Wednesday.
In its previous autumn 2018 GDP forecast, the German government had still projected a growth rate of 1.8 percent for 2019.
Despite the lowered forecast, the German economy would be "on a course for growth" for the tenth year in a row, German Economy Minister Peter Altmaier stated.
The "headwind" that the German economy is currently experiencing would be primarily caused by the external economic field regarding Brexit, trade conflicts and the international tax policy environment, according to Altmaier.
Preliminary figures released by the German Federal Statistical Office (Destatis) showed that the German economy grew slower -- at 1.5 percent -- in 2018 compared to growth rates of 2.2 percent in 2016 and 2017.
"The slower growth compared to the previous year should spur us to improve the framework conditions for our country's success and competitiveness now," said Altmaier.
Altmaier pledged that the German government would support employees and companies by investing in research and innovation, and that "future and key technologies" such as battery cell production and artificial intelligence, would be consistently promoted.
The digitalization of the economy and society, demographic developments, protectionist tendencies in world trade and climate change would be among Germany's greatest challenges, according to Altmaier.
