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10/29, 2:37 PM (Source: TeleTrader)
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German economy to return to pre-crisis level in 2022 - Altmaier

German Economy Minister Peter Altmaier (pictured) noted on Thursday that the country's economy is not likely to bounce back to pre-pandemic levels until 2022. He also unveiled the government is set to cover 75% of November's turnover for businesses and self-employed German residents that will close amid new restrictions starting Monday.

Speaking at a press conference along with Finance Minister Olaf Scholz, Altmaier asserted that the industrial sector's contraction won't be as severe as it was during the previous lockdown in spring. Despite an "unexpectedly high degree" of the spread of COVID-19 across the country, supply chains, retail and industrial production are not at risk currently, he added.

Breaking the News / GA