The recovery of Germany, which is called as the first economy in Europe, has stalled due to the imposition of new restrictions against the background of an increase in the number of cases of coronavirus in the country. GDP growth is expected at 3 percent this year, although earlier forecasts were at least 4.1 percent.

“The recovery will continue in 2021, altho at a slower pace,” said Peter Altmaier, the Minister of Economy. After a 5 percent cut last year, the country’s authorities believe in a return to pre-crisis levels only by 2022, which is about six months later than the previous forecast.

Coronavirus restrictions in Europe have been gradually tightening since the middle of November 2020. The new package of measures includes store closings and meeting restrictions. Lockdown is in force until mid-February, and amid fears of new strains of COVID-19, there are no evidence that the restrictions will be lifted in the coming weeks.