Germany Expects The Economy to Recover in October

German Minister of Economy Peter Altmaier said during press statements that he expects that his country’s economy is recovering from the repercussions of Covid-19 in October. Altmaier added that the economy will shrink by 6% in 2020 and then return to growth by more than 5% in the following year.

Altmaier pointed out that they should achieve the goal of employment rate that was achieved before the crisis by 2022 and then targeting full employment.

He also warned that the outbreak of the Coronavirus in the United States would have major repercussions on the global economy.

In previous statements by German Deputy Finance Minister, Jorg Kukies, he stressed the need to complete the European Union recovery package to support the economy in the face of the consequences of Covid-19.