German economy will pay 8 years for months of crown crisis

It took just a few weeks for Germany’s GDP to fall by 25%, and the consequences of the Crown Crisis would be worse than the 2008 financial crisis.

German economy will pay 8 years for months of crown crisis

This was reported by Der Spiegel, citing the results of a McKinsey study.

As noted in the media, the largest losses are recorded in the automotive industry and the engineering industry. The Federal Employment Service reported that over 10 million workers were transferred to part-time employment. This figure is 7 times higher than what was observed in 2008.

Given the magnitude of the economic collapse, analysts forecast an annual decline in GDP of 5 to 10%. At the same time, Cornelius Baur, director of the McKinsey company’s German office, recommended that Germany emphasize the digital field. According to him, this will accelerate access to the pre-crisis level. But even in this case, it will only be possible to restore the economy by 2028.

Comments:

comments powered by HyperComments