***  Accompanying slides in German of the speech President Nagel, Ladies and gentlemen, I would now like to take this opportunity to provide a few more details on the Bundesbank's annual accounts for 2022. All the figures can also be found in the Annual Report, copies of which are provided.
The real GDP growth in advanced economies decelerated from 2.7 per cent in 2007 to 0.2 per cent in 2008 and subsequently turned negative (–3.4 per cent) in 2009.