According to Bundesbank President Jens Weidmann, the German economy has probably moved past the trough of the coronavirus crisis.

President Jens Weidmann pointed out that the experts were forecasting only a slow recovery when measured against the sudden slump experienced: “Economic activity is expected to return to its pre-crisis level only towards the end of 2022,” he noted. Nevertheless, he is not anticipating any major long-term harm for the economy’s potential output, albeit based on the assumption that a medical solution to combat the pandemic will be available in the middle of next year.