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Coronavirus crisis could cost Germany 255-729 billion euros in 2020

23 Mar 2020 10:31 AM

The IFO Economic Institute said today that the Coronavirus crisis could cost the German economy between 255 billion and 729 billion euros in 2020.

"The costs are likely to exceed everything known from economic crises or natural disasters in Germany in recent decades," the institute's president said in a statement.

He added that if the economy standstill for two months, the costs will be between 255 billion and 495 billion euros, in addition to that with a partial closure for three months, the costs will reach between 354 billion to 729 billion euros.

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