5/12/2020, 12:04 PM (Source: TeleTrader)
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KfW: German economy could recover by summer

The ease of restrictions in Germany could lead to an economic normalization and eventually to growth, Kreditanstalt für Wiederaufbau (KfW) predicted on Tuesday.

The Frankfurt-based development bank said in a report that it sees German growth declining around 6% in the first half of 2020. KfW added that should there be no second wave of coronavirus infection, the recovery could happen by the summer, which would later result in growth of 5% in 2021.

The economic losses imposed by the pandemic have been estimated at €300 billion and growth in the entire Eurozone in 2020 is seen at -7%.

Baha Breaking News (BBN) / JR