Economy restore to pre-COVID-19 levels by 2022


On: Oct 2020

The finance minister of Germany Olaf Scholz said that there was a good possibility for German economy to return to pre-pandemic levels by 2022 or even earlier. He further said that if we observe the information, then we could be little bit optimistic about the future. With the gain in economic growth, we will have a prospect that we move back to the condition that we captured before the pandemic in the start of 2022. Hence, there is a good implementation that we can observe.

But we need to understand that we all rely on each other and similar applied for the German economy. The coronavirus epidemic lockdowns urged to fight infection rates which have shocked the Europe and worldwide economies, hampering growth as well as business sentiment.

A recent survey represented that investor optimism in Germany decline immediately in October amid a rise in coronavirus cases. The Mannheim-oriented ZEW institute’s month-wise barometer estimating economic optimism declined to 56.1 points in the biggest economy of the Europe from a 20-year high figure of around 77.4 points in the previous month. Several sectors depend on the funds of the European Union, and there are concerns that delays in approving a deal could damage the economy of the European Union.

Mr. Scholz said that the European Union now had an original opportunity to generate a closer financial union, including that the unity member states had revealed to each other was significant.  He also said that we observe that the Europe is operating together is helping the German economy, just by declaring it. We are performing it, but also helping our economy as anyone understands that the Europe can fight against the pandemic. And, therefore, I am very much confident and meanwhile, support the innovative idea that the European Union is extremely powerful and will move stronger out of this critical situation.