Germany To Revise Downward Its 2021 Growth Forecast On Coronavirus Woes – Sources

16Views

August 31, 2020

BERLIN: The German government expects the economic devastation caused by the coronavirus pandemic this year to be slightly less severe than originally feared, but it will revise downward its growth forecast for next year, two sources told Reuters on Monday.

Economy Minister Peter Altmaier will present the updated outlook for Europe’s largest economy on Tuesday after it suffered its worst recession in peacetime in the first half of the year.

The government said in April at the height of the pandemic that it expected the economy to rebound with an expansion rate of +5.2% in 2021 following a record plunge of -6.3% this year.

“The recovery next year will be somewhat less strong than initially expected,” a person familiar with the government’s updated forecast said on condition of anonymity.

This means that the German economy will probably not reach its pre-crisis level before 2022, a second source said.

An economy ministry spokesman declined to comment.

Also Watch

Sushant Death Probe: Why Did SSR’s Family Deny That He Was Unwell? | News Epicentre | CNN News18

A coalition source had told Reuters on Friday that the government is likely to revise upward its 2020 economic growth forecast to a decline of less than 6%. Still, this would be the biggest plunge since the end of World War Two.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Array
(
[videos] => Array
(
[0] => Array
(
[id] => 5f4d317debd3817406550a07
[youtube_id] => jcjddPy5Plo
Germany To Revise Downward Its 2021 Growth Forecast On Coronavirus Woes – Sources => Sushant Death Probe: Why Did SSR’s Family Deny That He Was Unwell? | News Epicentre | CNN News18
)

[1] => Array
(
[id] => 5f4d2ccdebd3817406550941
[youtube_id] => U7OyfTh71Ps
Germany To Revise Downward Its 2021 Growth Forecast On Coronavirus Woes – Sources => Remembering ‘Citizen’ Pranab Mukherjee | Brass Tacks | CNN News18
)

)

[query] => https://pubstack.nw18.com/pubsync/v1/api/videos/recommended?source=n18english&channels=5d95e6c378c2f2492e2148a2,5d95e6c278c2f2492e214884,5d96f74de3f5f312274ca307&categories=5d95e6d7340a9e4981b2e10a&publish_min=2020-08-28T22:34:05.000Z&publish_max=2020-08-31T22:34:05.000Z&sort_by=date-relevance&order_by=0&limit=2
)

Germany To Revise Downward Its 2021 Growth Forecast On Coronavirus Woes – Sources

Also Watch

Speak Your Mind

LEAVE A REPLY Cancel reply

Get in Touch

Recommend for You

Oh hi there It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

You might also like

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

About Us

Follow Us

Support Us & Be a Patreon

Add QNewsHub to your Homescreen!

Oh hi there
It’s nice to meet you.