Germany’s economy ‘may recover’ from October – Finance Minister

epa08517416 German Minister of Economy and Energy Peter Altmaier arrives for a press event at the Varta battery factory in Ellwangen, Germany, 30 June 2020. The German battery manufacturer receives IPCEI (Important Project of Common European Interest) funding to further develop its lithium-ion technology for robotics and e-mobility applications. EPA-EFE/PHILIPP GUELLAND

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Germany’s economy may recover from October onwards from the coronavirus pandemic, Economy Minister Peter Altmaier said in a newspaper interview on Sunday.

“I am sure that the downturn of our economy can be stopped after the summer break and that from October onwards, the economy can start growing again in Germany,” he told the mass circulation Bild am Sonntag in an interview.

While the economy would shrink by 6% in 2020, growth by over 5% would be possible in 2021, Altmaier said.

His goal was to reach the level that employment was at before the crisis by 2022, and to start heading for regaining full employment after that date, he said.

Altmaier also said that the rate of the spread of the virus in the United Status was a major concern.

“A pandemic that gets out of control there, has big consequences for the world economy,” he said.

Reuters 

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