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German economic experts see 2020 GDP contracting by 5.1% - SZ

FILE PHOTO: Stacked chairs and tables are pictured on a street, as the spread of the coronavirus disease (COVID-19) continues in Leipzig, Germany, November 4, 2020. REUTERS/Annegret Hilse

BERLIN (Reuters) - The German economy will likely contract by 5.1% this year due to the COVID-19 pandemic, according to a leaked advisory council report.

German daily Sueddeutsche Zeitung reported on Tuesday the experts, who advise the German government on economic policy, said in their annual report the government had acted swiftly and decisively in the crisis.

They see the German gross domestic product increasing by 3.7% next year, the paper added.

The council is due to publish its report on Wednesday.

Reporting by Thomas Seythal; Editing by Riham Alkousaa

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