Will the German economy shrink by 8% under the epidemic?
In order to alleviate the financial liquidity crisis of SMEs affected by the epidemic, the German government also directly sends money to SME accounts that meet the application requirements, ranging from thousands of euros to tens of thousands of euros.
In the first two months of this year, German experts are still predicting the strength of the economic recovery, but today, the hot topic is: Will the extent of the German economic recession in 2020 exceed the previous financial crisis?
"The degree of recession will be at least the same as in 2009, and may even exceed it." Regarding the above issues, German Economy Minister Altmaier (Altmaier) said so on April 2 local time. In 2009, affected by the global financial crisis, Germany's gross domestic product (GDP) fell by 5.7%, its worst performance in decades.
In response to the economic risks caused by the new coronavirus epidemic, the German government suspended the "debt brake" plan stipulated by the Constitution a week ago and approved an economic stimulus plan with a size of more than 750 billion euros, including debt and additional totals A supplementary budget of 156 billion euros. It is reported that further economic stimulus is also under discussion.
In addition, in order to alleviate the liquidity crisis of SMEs affected by the epidemic, the German government also directly sends money to SME accounts that meet the application requirements, ranging from thousands of euros to tens of thousands of euros.