Deutsche Bank shares: according to the bank’s forecasts, the corona crisis will cost 1.5 billion euros
Deutsche Bank assumes that the coronavirus pandemic will cost the German state 1.5 trillion euros. Chief economist David Folkerts-Landau said:Focus“. However, it is estimated that the Federal Republic can do so, since the debt is relatively small with around 60 percent of gross domestic product.
At the same time, he declared that the crisis was also being felt financially among the citizens. In fact, these taxes would increase in the medium term. However, Germany is in a relatively comfortable situation due to the sound fiscal policy of recent years.
Deutsche Bank chief economist with optimistic forecasts
In addition, according to Deutsche Bank forecasts, things will go back up from the fourth quarter: “We expect economic growth to increase significantly in 2021“Said the economic expert Folkerts-Landau.
In the end, Germany would emerge even stronger from the Corona crisis. The Federal Republic would be one of the first countries to emerge from the crisis. Last but not least, the industrial structure and the good health system are responsible. But China is also one of the big winners, as it has been able to deal with the spread of the coronavirus particularly quickly. In the meantime, he did not comment on whether to invest in DAX or Chinese stocks due to development.
Deutsche Bank is also severely affected by the Corona crisis
Meanwhile, Deutsche Bank is also reacting to the changing situation. Since Tuesday March 24, approximately 200 branches have been closed until further notice. However, clients have the option of using the financial application of the financial institution. Deutsche Bank is also suspending the job cuts for the time being. Employees do not have to fear for their work, at least during the acute phase of the pandemic.
Deutsche Bank stocks are also under increasing pressure. For example, the market value has decreased by 20.69% in the past 4 weeks. The record of 111.31 euros seems more distant than ever.