German economy minister sees economic recovery from October

Germany's economy may recover from October onwards from the coronavirus pandemic, Economy Minister Peter Altmaier said in a newspaper interview on Sunday.

"I am sure that the downturn of our economy can be stopped after the summer break and that from October onwards, the economy can start growing again in Germany," he told the mass circulation Bild am Sonntag in an interview.

German Economy Minister Peter Altmaier speaks during a news conference in Berlin, June 15, 2020. /Reuters

While the economy would shrink by 6 percent in 2020, growth by over 5 percent would be possible in 2021, Altmaier said.

His goal was to reach the level that employment was at before the crisis by 2022, and to start heading for regaining full employment after that date, he said.

Altmaier also said that the rate of the spread of the virus in the U.S. was a major concern.

"A pandemic that gets out of control there has big consequences for the world economy," he said.

Source(s): Reuters