February 28, 2021

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Wheatman: Germany may return to pre-crisis level next year


Despite tough measures against the spread of the corona virus, the German economy is likely to return to pre-epidemic levels early next year. According to the DPA, Jens Weidmann, chairman of the German central bank, said this in an interview with Oxburger Alzheimer’s.

The recovery of the German economy will continue this year if the epidemic is brought under greater control and control measures are relaxed.“The houseman said.”Therefore, the German economy may return to pre – crisis levels by the beginning of 2022.“Added.

Germany’s gross domestic product (GDP) fell by five percent last year due to an epidemic. In December, central bank economists forecast a three percent increase in GDP this year. Germany is Europe’s largest economy and the largest trading partner of the Czech Republic.

Larsfeld, chairman of the German government’s advisory council, said this week that the German economy was likely to fall sharply in the first quarter due to measures against the corona virus. The German research firm DIW last week estimated the rate of this fall at three per cent.

Weidmann, however, pointed out that the slowdown in the German economy in the first quarter should moderate relatively good developments in the industrial sector. “That is why our economists now believe that there is no need to change our December forecast significantly.However, he acknowledged that the future growth of the economy was uncertain and that it was mainly a matter of development.

Source: Reuters, ČTK, DPA

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