In view of the spread of the corona virus, the Federation of German Industries (BDI) has asked the federal government to act quickly. “In addition to health protection, politicians must now focus on economic crisis management,” said BDI chief executive Joachim Lang.
“The extent and duration of the effects of the virus cannot currently be assessed at all,” Lang Lang continued. However, “severe effects” threatened the economy. The Federal Government must therefore “as soon as possible” provide economic policy impulses to stimulate growth. Political agreement was still required in the first quarter.
“The effects of the corona virus can be clearly felt for the global economy and export-oriented German industry,” said Lang. The more than 5,000 German companies in China are currently severely restricted in terms of procurement, production and sales. “In the coming weeks, several industrial sectors in Germany are expecting bottlenecks in deliveries from the Far East, including electronics, automotive, pharmaceuticals and paper,” said the BDI -Hauptgeschäftsführer.