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Germany lost a tenth of its gross domestic product during the two years of the crisis
Germany lost ten percent of its gross domestic product compared to the year before the crisis during the two years of the coronavirus crisis, and value-added production capacity also declined somewhat, according to a report by the Ifo Institute for Economic Research in Munich on Thursday.
As a result of the crisis, Germany lost 330 billion euros in gross domestic product by 2020 and 2021. “This equates to a combined economic loss of 10 percent of economic performance of 2019,” said Timo Wollmershäuser, director of economic research at ifo. (MTI)
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