BERLIN (Reuters) – Germany’s financial development may fall to 1.4%-1.5% this yr, from 2.7% in 2021, with a mean of round 590,000 folks on reduced-hours lay-off schemes over the course of the yr, Labour Minister Hubertus Heil mentioned in an interview with Bild am Sonntag.
“We’ll nonetheless be rising,” Heil mentioned. “However this all topic to the proviso that the warfare doesn’t unfold additional and that vitality provide stays in place,” he added.
The federal government would offer additional help and assist for lay-offs the place doable to safeguard jobs if the scenario worsened, Heil mentioned.
Germany plans to supply greater than 100 billion euros ($108.8 billion) value of help to corporations hit by fallout from the warfare in Ukraine, in accordance with a doc seen by Reuters on Friday.
Finance Minister Christian Lindner can also be planning to submit a supplementary finances to parliament in coming weeks to mirror the financial affect of the warfare, which might doubtless be value no less than 24 billion euros.
Reporting by Victoria Waldersee; Modifying by Alex Richardson
