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Recession in Germany 'inevitable,' government advisers say

World Monday 30/March/2020 18:05 PM
By: Times News Service
Recession in Germany 'inevitable,' government advisers say

Berlin: The council of economic advisers said a recession in Germany in the first half of this year is "inevitable." Experts estimate that output could shrink by up to 5.4% this year, while in the best-case scenario the gross domestic product (GDP) could drop 2.8%.


More than one in 10 medium-sized companies are threatened with bankruptcy due to the pandemic, according to the German Chambers of Commerce and Industry. The Institute for Economic Research has also said that over a quarter of German companies are expected to implement reduced working hours over the next three months. Latest figures: 62,435 infections, 541 deaths, 9, 211 recovered.


Germany's coronavirus death toll increased by about 15%. The government said it does not foresee any loosening of the current restrictions in the near future. The Marburger Bund, the biggest doctors’ association in Europe, has called for a "massive expansion" of production of personal protective equipment including protective masks, glasses, coats and suits. Berlin is also set to open a new clinic by April or May, which could hold up to 1,000 coronavirus patients, according to Berlin health senator Dilek Kalayci.