A sign indicates the entry for “2G”, the German term for people who have been vaccinated against or have recently recovered from Covid-19.
Jens Schlueter | beautiful pictures
Preliminary data showed on Friday the German economy grew 2.7% in 2021 following a year-on-year increase in Covid-19 cases, pandemic-related restrictions and supply chain pressures. .
It comes after the largest economy using the euro shrank 4.6% in 2020 – the first year of complete shutdowns and tough social restrictions in the wake of Covid.
Georg Thiel, Chairman of the Federal Statistical Service, said: “Despite the pandemic situation, many delivery bottlenecks and raw material shortages, the German economy has managed to recover from the wave. fell sharply last year, although economic activity has yet to return to pre-crisis levels.” The office said Friday, according to a statement.
Germany’s growth in 2021 is still 2% lower than in 2019, indicating that the economy has not yet returned to pre-Covid levels, the statistics office said.
Looking ahead, the upcoming economic activity remains clouded by uncertainty.
On Thursday, Germany’s public health agency, the Robert Koch Institute, warned that the number of new Covid cases was continuing to increase rapidly. The latest figures show that there are about 80,000 new cases daily.
The deficit is higher
In addition, Germany saw an increase in net borrowing in 2021.
The statistics office said the fiscal deficit stood at 153.9 billion euros ($176.46 billion) at year-end – higher than the 145.2 billion euros recorded in the previous year.
This is a breaking news story and it is being updated.
