The German economy could return to pre-crisis levels by the end of 2021

The German economy could return to pre-crisis levels by the end of 2021

The German economy could return to pre-crisis levels by the end of 2021 if the new coronavirus pandemic were kept under control during the winter and restrictions were gradually lifted at the beginning of next year. This was stated on Thursday by the German economic institute DIW, which predicts a decline in the largest European economy this year. According to the DIW, the performance of the German economy will fall by 5.1 percent in 2020, as it was hit by two blockades to stop the spread of the new coronavirus. However, it expects its growth by 5.3 percent next year. But if the restrictions continue until the spring, the performance of the German economy in 2021 could be 1.5 percentage points lower than in the most optimistic scenario, DIW warned. In Germany, partial blockades have been in place for six weeks, during which restaurants and bars are closed, but shops and schools remain open. However, the number of new cases climbed to record levels on Thursday.