On the background of COVID-19 infection, the German economy is losing fifteen billion euros weekly, which means that it will take at least eight years to restore the economy of the country.
“It is forecasted that Germany will lose from five to ten percent of GDP,” – reads the last report by the German branch of an American consulting company, McKinsey & Company.
According to the analytics of McKinsey, German will achieve the pre-recession level of the economy by 2028, in case the German enterprises will be directed to technological development, in another case, it may take tens of years.
The Minister of Economy, Peter Altmaier, has stated early this week that the country “is suffering the hardest recession in the history of the Federal Republic.”
“After ten years of growth the coronavirus pandemic has pushed our economy in recession,” – Altmaier says.
