The current measures in the fight against the coronavirus pandemic are pushing the German economy to its limits. Experts expect a significant slump this year. Federal Minister of Economics Altmaier sees it that way, but also a glimmer of hope.
According to Federal Minister of Economics Peter Altmaier from the CDU, the economic downturn caused by the Corona crisis will be somewhat deeper than in the financial crisis in 2009. “I do not think it is sensible to outbid competition with poor forecasts. At the moment, most forecasts assume that the slump in growth will be a little more difficult than in the financial crisis, “said Altmaier of the” Rheinische Post “.
Altmaier announced: “We are already putting a lot more money into the economy than during the financial crisis.” He said: “With an additional budget and economic stabilization funds alone, we are making around 750 billion available.”
Altmaier: “Opportunity for catch-up and catch-up effects”
“Necessary measures must not fail because of money,” he emphasized. “The cuts will be very noticeable in March, April, May,” said Altmaier. “In the second half of the year, we still have a chance for catch-up and catch-up effects,” he said.
However, this is still fraught with considerable uncertainty: “Because the corona crisis, for example, affects the USA, one of our most important trading partners, much more than previously thought,” the minister told the newspaper. “It is clear that we have to boost the economy after the crisis with a large program. However, these will not be classic economic programs with flashlights, but clever structural incentives for investments and innovations,” said the CDU politician.
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