According to Federal Minister of Economics Peter Altmaier, the economic crisis in Germany triggered by the corona virus could end in autumn. "I am sure that we can stop the downturn in our economy after the summer break and that the German economy will grow again by October at the latest," said the CDU politicians of the Bild am Sonntag .
This year the German economy will probably shrink by six percent, said Altmaier. However, he expects more than five percent growth in 2021, and the labor market is also likely to pick up again in November, said Altmaier. "I expect that this year we will see Corona’s unemployment peak until about October. From November onwards, it may slowly decrease," the newspaper’s economics minister said. He wants to ensure that employment returns to the pre-crisis level by 2022.
The economic experts at the Munich Institute for Economic Research (Ifo) had also recently predicted a strong upswing in the second half of the year. They expect German economic output to fall by 6.7 percent in 2020 compared to the previous year. The institute expects growth of 6.4 percent in 2021. Thus, the German economy could have returned to its performance by the end of 2019 by the end of 2021.