German Economy Ministry: The Economy May Return to The Level Before The Corona in Mid-2022

A draft document by the German Economy Ministry and seen by Reuters stated that the German economy, the largest in Europe, is likely to reach pre-coronavirus levels in mid-2022.

In its draft annual economic report, the ministry said that the state of the global economy, untapped production capabilities, and early indicators point to a further recovery of the German economy.

She added that the budget deficit this year is expected to reach 7% compared to GDP, which pushes the debt ratio to 72.5%at a time when Berlin is spending billions of euros to cushion the blow the epidemic has caused to the economy.