Germany loses 330 billion economic output - Ifo boss: worst economic crisis since 1930s

Created: 02/17/2022, 15:42

Germany lost 330 billion euros in economic output as a result of the corona pandemic.

© Imago

According to calculations by the Munich Ifo Institute, the pandemic has reduced German economic output by a total of 330 billion euros in the past two years.

Munich - Instead of growing twice by 1.3 percent, the economy has shrunk in the meantime.

Ifo expert Timo Wollmershäuser said on Thursday that future losses in value creation, for example through failures in education, are not yet taken into account.

Ifo boss Clemens Fuest spoke of the “worst global economic crisis since the Great Depression in the 1930s”.

It was therefore right that the federal government had resolutely stabilized the economy.

With its calculations of the Corona consequences, the Ifo is somewhat lower than the Institute of German Economics, which had calculated a loss of value added of 350 billion euros.