According to a study, the corona pandemic has cost the German economy around 350 billion euros so far. This sum was lost in economic output, said the employer-related Institute of German Economy (IW Cologne) on Sunday. In the current first quarter, another 50 billion euros could possibly be added. Other experts fear a new recession as a result. “The recovery will take years,” said IW economist Michael Grömling. According to the institute, Germans have spent 270 billion euros less on their consumption in the past two years than would have been the case without the pandemic. That corresponds to around 3,000 euros per person. In addition, companies invested around 60 billion euros less. “Government spending and exports at least partially absorbed the economy in the second year,” the institute said. In the second Corona year, problems with supply chains in particular slowed things down.
Economy – Expensive Pandemic – Economy
