Minister of Foreign Trade Expresses Unwavering Confidence: 'I couldn't be less concerned'

New BGA President Anton Böerner Outlines Optimistic Outlook for German Economy

Anton Böerner, the newly appointed president of the Federal Association of Wholesale, Foreign Trade, and Services (BGA), has expressed optimism about the future of the German economy, particularly in the context of the ongoing COVID-19 pandemic.

In a series of statements, Böerner predicted that a COVID-19 vaccine will be available soon, and by the middle of next year, Germany will be back where it was before the pandemic. He attributed this optimism to the resilience of German companies and the effective use of state aid instruments.

Böerner praised the federal government's crisis policy, stating that it has been "really good". He commended the policy for putting a lot of money on the table to encourage a quick exit from the crisis, and for providing billions in aid to the economy. According to Böerner, this policy has prevented a major wave of insolvencies and allowed companies to keep their employees through the extension of short-time work.

However, Böerner acknowledged that the pandemic's impact on the economy varies greatly, even within sectors. While sectors such as construction-related trade and online retailers are experiencing increases in turnover, others are struggling. The technical supply trade, the event industry including trade fairs and catering, and the healthcare sector are among those suffering greatly.

The healthcare sector, in particular, is facing severe financial difficulties, with many hospitals operating at a deficit and requiring restructuring. The metal and electrical industries in Bavaria have also been hit hard, with significant job cuts and production declines due to reduced orders and underutilized factories.

Despite these challenges, Böerner remains hopeful. He predicts a return to normal life by Easter, with the last restrictions being lifted by summer. He also expects the situation to normalize after the first quarter of 2021.

In a natural disaster like the pandemic, Böerner emphasizes that one can't just pinch pennies. He believes that the state aid loans have been used correctly and will continue to play a crucial role in supporting the economy.

In conclusion, Anton Böerner's optimistic outlook for the German economy is based on the resilience of German companies, the effectiveness of the federal government's crisis policy, and the expectation that a COVID-19 vaccine will be available soon. However, he also acknowledges the challenges faced by certain sectors and the need for continued support.