German economy likely to shrink 5.5% in 2020, advisor tells Die Zeit
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SATURDAY, JANUARY 28, 2023
German economy likely to shrink 5.5% in 2020, advisor tells Die Zeit

Global Economy

Reuters
22 April, 2020, 06:15 pm
Last modified: 22 April, 2020, 06:18 pm

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German economy likely to shrink 5.5% in 2020, advisor tells Die Zeit

“We cannot stick to this estimate. I rather expect a decline of 5.5 percent - and that is optimistic”

Reuters
22 April, 2020, 06:15 pm
Last modified: 22 April, 2020, 06:18 pm
The 'Europacity' construction site is pictured in Berlin, Germany, July 27, 2018. REUTERS/Fabrizio Bensch/Files
The 'Europacity' construction site is pictured in Berlin, Germany, July 27, 2018. REUTERS/Fabrizio Bensch/Files

The head of Germany's panel of economic advisors expects Europe's biggest economy to shrink by at least 5.5 percent this year due to the coronavirus crisis compared with a previous forecast for a 2.8 percent contraction, Die Zeit weekly reported on Wednesday.

"We cannot stick to this estimate. I rather expect a decline of 5.5 percent - and that is optimistic," Lars Feld was quoted by the newspaper as saying, adding the original prediction, from March, was based on a shutdown of five weeks and three week ramp-up.

World+Biz

Germany

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