Europe’s leading economy, Germany, is bracing for a painful fallout from the coronavirus crisis that is likely to result in the country’s deepest recession in the post-war era.
After a decade of growth, the German economy is likely to shrink by 6.3 percent in 2020, according to Economy Ministry projections released on Wednesday. The outlook is a little brighter than figures announced by the International Monetary Fund (IMF) earlier this month, as the lender expects a seven percent contraction in Germany next year.
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