April 29, 2020 / 5:50 AM / a month ago

Nearly a third of German firms can survive for max 3 months with longer restrictions: Ifo

BERLIN (Reuters) - Some 29.2% of German companies think they would survive for a maximum of three months if the coronavirus-related restrictions remain in place for a longer period while 52.7% said they would survive for a maximum of six months, the Ifo institute said.

“These are worrying figures that point to a wave of bankruptcies ahead,” Klaus Wohlrabe, an economist at Ifo, said of the survey.

Reporting by Michelle Martin; Editing by Riham Alkousaa

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