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GDP: 2,889,18 Billion USD

GDP per Capita: 46.805 USD

GNP: 4,105.52 Billion USD

Unemployment Rate: 5%

Currency: 1 euro = 1.12 USD

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GDP: 4,072,190 Billion USD

Growth rate: +1.8%

GDP per Capita: 43,029 USD

GNP: 4,527.64 Billion USD

Unemployment rate: 5.3% (2,418,133 hab.)

Currency: 1EUR = 1.05USD

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“Germany GDP 1970-2024.” Www.macrotrends.net, 2024, www.macrotrends.net/global-metrics/countries/DEU/germany/gdp-gross-domestic-product.

“Germany GNP 1962-2024.” Macrotrends.net, 2024, www.macrotrends.net/global-metrics/countries/DEU/ermany/gnp-gross-national-product. Accessed 17 Oct. 2024.

Statista. “Euro to U.S. Dollar Exchange Rate 1999-2018 | Statista.” Statista, Statista, 2018, www.statista.com/statistics/412794/euro-to-u-s-dollar-annual-average-exchange-rate/.

---. “Unemployment Rate in Germany 2020.” Statista, 2023, www.statista.com/statistics/227005/unemployment-rate-in-germany/.

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Germany was ranked 6th in the global ranking in 2019 with an HDI value of 0.947.

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DGVN. (2022, October 10). Schritt vor und zwei zurück? Dgvn.de https://dgvn.de/meldung/ein-schritt-vor-und-zwei-zurueck

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Germany GDP. (n.d.). worldometers. https://www.worldometers.info/gdp/germany-gdp/

O'Neill, A. (2024). Germany: Growth rate of the real gross domestic product (GDP) from 2019 to 2029. Statista. https://www.statista.com/statistics/375203/gross-domestic-product-gdp-growth-rate-in-germany/

Unemployment. (n.d.). Dstatis. https://www.destatis.de/EN/Themes/Labour/Labour-Market/Unemployment/Tables/lrarb001.html#242346

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After 2 years of COVID pandemic, what actions were taken by the Central Bank of germany

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After 2 years of COVID pandemic, what actions were taken by the Central Bank of germany

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The Deutsche Bundesbank:

-Monetary Policy Adjustments

-Asset Purchase Programs

-Stabilization of Financial Markets

-Support for Government Fiscal Measures

-Long-Term Refinancing Operations (TLTROs)

-The Bundesbank supported government initiatives, including financial aid packages and guarantees for businesses affected by the pandemic and also measures to ensure stability in the financial markets, including providing liquidity support.

This actions were taken for supporting recovery, and maintaining financial stability in Germany and the euro area.

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Britannica. “Germany - Manufacturing | Britannica.” Encyclopædia Britannica, 2019, www.britannica.com/place/Germany/Manufacturing.

DSCI. COVID-19: Supply Chain Impacts and Insights from Germany. 2020.

Köhler-Geib, Fritzi, and Volker Zimmermann. “Impact of the COVID-19 Pandemic on Different Groups of SMEs in Germany and Their Recovery.” Www.intereconomics.eu, vol. 2023, no. 6, 2023, pp. 333–341, www.intereconomics.eu/contents/year/2023/number/6/article/impact-of-the-covid-19-pandemic-on-different-groups-of-smes-in-germany-and-their-recovery.html.

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The Pandemic affected not only Germany’s economy, but also the world’s economy. It is incredible to know that Germany recovered from a strong struggle. There was a good Surplus in economics. But in the HDI, Germany went down on its score, so they didn’t have a recover from what Germany was on its full shine.

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Between 2020 and 2021, the German government invested 130,000 million euros in subsidies of 300 euros to each child per family. The value of the premium for the purchase of an electric vehicle was increased from 3000 to 6000 euros. This in order to boost the same sector. Also, a temporary reduction was applied to the Added Tax Value throughout the country.

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From 2022 to 2026, the German Recovery and Resilience Plan (GRRP) is being carried out, which has 6 key purposes to boost economy:

Climate action and energy transition

Digitalization of the economy

Education and infrastructure

Social participation

Strengthening a resilient health system in the face of the pandemic

Modernization of of public administration and the reduction of barriers to investment

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Health:

The shortage of specialized doctors left many patients unattended.

The first COVID-19 cases where diagnosed late.

Education:

The sudden closure of daycare centers and schools caused considerable stress to families with children .

Students of all educational levels do not have access to the right digital equipment in order to take online classes.

Several teachers have few capacitation in technológical matters

Life quality:

One of every 2 people has declared to suffer from stress in work.

People fears to suffer negative economic consequences.

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Deutsche Welle. (2022). Alemania advierte sobre los efectos de covid-19 largo. https://www.dw.com/es/alemania-advierte-sobre-consecuencias-del-covid-19-de-larga-duraci%C3%B3n/a-62425949

El Economista. (2020). Gobierno de Alemania aprueba plan para reactivar su economía tras la pandemia de Covid-19.

https://www.eleconomista.com.mx/economia/Gobierno-de-Alemania-aprueba-plan-para-reactivar-su-economia-tras-la-pandemia-de-Covid-19-20200603-0082.html

Kinkartz, S.(2020). Escuelas alemanas obtienen mala nota en educación digital. Deutsche Welle. https://www.dw.com/es/escuelas-alemanas-obtienen-mala-nota-en-educaci%C3%B3n-digital/a-52848635

Kinkartz, S.(2021). Alemania y las consecuencias psicológicas del COVID-19. Deutsche Welle. https://www.dw.com/es/alemania-c%C3%B3mo-afect%C3%B3-la-pandemia-de-coronavirus-a-los-trabajadores/a-58037385

Zabala Innovation. (2021). Alemania y Grecia presentan sus planes oficiales de recuperación y resiliencia.

https://www.zabala.es/noticias/planes-de-recuperacion/#:~:text=El%20plan%20de%20recuperaci%C3%B3n%20y,fin%20de%20cubrir%20sus%20necesidades

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Most affected industries by the pandemic

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Most affected industries by the pandemic

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Similarily to the rest of the world, Germany's economy suffered greatly due to the pandemic, an impact only increased by the burden of being Europes largest economy.

The industry that suffered the most from the pandemic was the autotomative industry, one of the biggest industries in Germany. This industry suffered greatly from the lack of supplies for the cars and the sheer decrease in demand, a problem that extended to all other engineering industries. Another important industry that was imacted was the food processing industry, another important one in Germany. The food processing industry suffered from the increased amount of sanitary risks and concerns that came about with the pandemic.

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Annual Report 2023. (2024, February 23). Bundesbank.de. https://publikationen.bundesbank.de/publikationen-en/reports-studies/annual-reports/annual-report-2023-925134

Bloomberg. (2023). Bloomberg. Bloomberg.com. https://www.bloomberg.com/

Germany: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany. (2024, July 18). IMF. https://www.imf.org/en/Publications/CR/Issues/2024/07/17/Germany-2024-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-552080