COVID-19: Germany forecasts economic recovery from October

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The German government says the country’s economy may recover from the effects of the coronavirus pandemic from October, 2020.

The country’s Economy Minister, Peter Altmaier predicted this in a newspaper interview on Sunday.

German Economy Minister, Peter Altmaiert

“I am sure that the downturn of our economy can be stopped after the summer break and that from October onwards, the economy can start growing again in Germany,”

While the economy would shrink by 6 per cent in 2020, growth by over 5 per cent would be possible in 2021, he told the mass circulation Bild am Sonntag in an interview, adding that his goal was to reach the level that employment was at before the crisis by 2022, and to start heading for regaining full employment after that date, he said.

Altmaier also said that the rate of the spread of the virus in the U.S. was a major concern.

“A pandemic that gets out of control there, has big consequences for the world economy,” he stated.

Peace PIAK