Germany’s Ifo says that if firms close for more than 2 months, could cost Bavaria €49-94 billion
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Ifo institute releases an estimate on the economic damage
On the lower end of the spectrum, that is roughly ~8% of Bavaria’s 2018 GDP of €625 billion. Meanwhile, the higher end estimate sees a ~15% GDP hit to the Bavarian economy.
On the lower end of the spectrum, that is roughly ~8% of Bavaria’s 2018 GDP of €625 billion. Meanwhile, the higher end estimate sees a ~15% GDP hit to the Bavarian economy.