Trade Minister Expresses Calm Regard: 'I Have No Concerns Whatsoever'
Anton Börner, the new president of the Federal Association of Wholesale, Foreign Trade and Services (BGA), recently shared his insights in an interview with the Funke media group's newspapers. Despite the challenging times brought about by the COVID-19 pandemic, Börner remains optimistic about the future.
During the interview, Börner did not express concern about German companies during the corona crisis. However, he did acknowledge the significant impact the pandemic has had on various sectors. Generally, organisations like the BGA have witnessed a notable downturn in traditional retail, hospitality, and travel-related services. On the other hand, sectors linked to medical supplies, protective equipment, and digital services have experienced growth.
Börner has highlighted the challenges posed by disrupted supply chains and increased demand variability, but he also emphasised the accelerated digital transformation and increased e-commerce as growth drivers in some segments. For precise statements by Börner and detailed sector-specific impacts related to the Corona crisis, consulting official BGA communications or related recent interviews would be necessary.
In terms of the immediate future, Börner predicts that the economy will be back to where it was before the start of the coronavirus crisis by the middle of next year. He also believes that normal life can return by Easter, with the remaining strains easing by summer. Börner expects the situation to normalise after the first quarter of 2021.
The extension of short-time work until the end of 2021 has prevented major job losses, allowing companies to keep their employees. Börner believes that state aid loans will prevent a major wave of insolvencies. He stated, "It's important to put a lot of money on the table to show that there's something for everyone to help get out of the crisis."
The technical supply trade and the event sector, including the trade fair industry and its supplier companies such as catering, are suffering extremely. Contrastingly, mail-order companies are experiencing a boom during the coronavirus crisis. The construction-related trade is experiencing increases in turnover in some cases.
Despite being asked about which sectors he is concerned about during the corona crisis, Börner did not specify any. However, he praised the crisis policy of the federal government, stating that the aid provided to the economy has been good. Börner also expects a coronavirus vaccine to be available soon.
In conclusion, while the COVID-19 pandemic has presented numerous challenges for the German economy, Anton Börner remains optimistic about the future. He believes that with the right measures in place, the economy can recover and return to pre-pandemic levels in the near future.
In the interview, Anton Börner did not express concern about particular sectors during the coronavirus crisis. However, he did mention that sectors like medical supplies, protective equipment, and digital services have seen growth, while traditional retail, hospitality, and travel-related services have faced a notable downturn. Furthermore, the president of the BGA anticipates that the economy will be back to its pre-pandemic level by the middle of next year, with increased e-commerce and digital transformation being some of the drivers for growth, especially in the finances and business sectors.
