The corona crisis costs Austria more than 13 billion euros

Through the Spread of Corona virus in Europe and the resulting ones Exceptional conditions is in each country recession For Austria become inevitable. This is the conclusion Christian Helmenstein, Chief economist of Industrial association and head of the Economica Institute for Economic Research.

Great decline

“If the scale does not worsen, GDP will shrink by 2.5 percent,” says Helmenstein. That would be a total decrease of 13.7 billion euros. This would, however, mean that the GDP would shrink less than when the economic crisis started in 2008 / ‘09, because at that time it was 3.8 percent.

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