Germany's Ifo says that if firms close for more than 2 months, could cost Bavaria €49-94 billion

Author: Justin Low | Category: News

Ifo institute releases an estimate on the economic damage

That is a pretty big range in terms of estimate but I guess there is really no real way of telling to what extent the business closures will be and how consumer behaviour is affected.

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.

The state of Bavaria accounts for roughly 18% of Germany's overall GDP.

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