Berlin-Sana
The German Economic Institute announced that the repercussions of the spread of the Corona virus led to huge losses to the economy in Germany, amounting to 350 billion euros during the past two years.
The German magazine Der Spiegel quoted the institute's data as saying that this loss belongs to the value-added tax, a large part of which is due to shortcomings in private consumption due to, among other things, the closure measures.
The institute added, "Even if at the end of 2022 the same total level of GDP that existed before the Corona crisis is reached, there will still be a significant gap in economic performance."
It is noteworthy that the new federal government in Germany expects this year economic growth weaker than it was, as an increase in GDP is expected by only 3.6 percent.
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