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7/5, 4:53 AM (Source: TeleTrader)
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German economic growth starts in October - Altmaier

Germany's Minister for Economic Affairs and Energy Peter Altmaier (pictured) stated that the country's economy will start recording growth in October "at the latest."

"I am sure that we can stop the downturn in our economy after the summer break," he told Bild am Sonntag. The domestic demand must be supported with several measures to fuel the overall recovery, including a reduction of the value-added tax, the minister added.

The nation's GDP is estimated contract by 6% in 2020, but will rise by more than 5% next year, Altmaier said, specifying that the unemployment will reach its peak in October, slowly declining from that point on and landing at pre-pandemic levels by 2022.

Breaking the News / MS