Government Official Altmaier Advocates for a Comprehensive Perspective on the Pandemic's aftermath
German Economy Minister Predicts Overcoming Economic Problems Caused by Pandemic by 2022
Federal Economics Minister Peter Altmaier of the Christian Democratic Union (CDU) has called for a "realistic view" of the economic consequences of the pandemic. In an interview on RTL and n-tv's "Early Start" show, Altmaier indicated that it will take until the first half of 2022 to overcome all economic problems caused by the pandemic.
Altmaier and Federal Finance Minister Olaf Scholz (SPD) had previously promised a "financial bazooka" and provided KfW loans to small and medium-sized enterprises. However, the minister emphasized that it is not possible to simply offset the decline in economic activity in Germany and act as if nothing had happened.
The minister stated that the idea of the state spending money in unlimited amounts for all wishes is unrealistic. He reiterated that it will take time and effort to recover from the economic impact of the pandemic.
Altmaier also expressed his expectation that Germany will be stronger than before the pandemic after overcoming all economic problems. He prognosticated that the industry will show signs of recovery with a production increase of approximately 1% in 2025, and the economic problems of the Corona-crisis in Germany could be overcome by 2025. However, he warned that the future development remains uncertain.
In response to the economic consequences of the pandemic, Altmaier made these statements, urging the public to maintain a realistic perspective on the road to recovery. He called on the government, businesses, and individuals to work together to overcome the challenges ahead and build a stronger economy for the future.
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