Germany Faces Sharp Drop in Real Income

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According to the forecast, real income loss will reach €110 billion ($110 billion) during the 2021-2023 period, which equals 3% of Germany‘s annual economic output, RT reported.

“The only time this figure was higher was during the second oil crisis of 1979-81, when the loss in economic output was 4%,” said Timo Wollmershaeuser, senior economist at Ifo.







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