Analysis and Monitoring of the Overall Economic Development in the Free State of Saxony During and After the Corona Crisis

Tasks

Even if Germany came through the first wave of the corona pandemic relatively unscathed from a medical point of view, the consequences for the economy are obvious. In order to draw a detailed and up-to-date picture of the economic situation in Saxony and to compare it with the development in Germany as a whole, numerous indicators that are available at short notice were analyzed. The expert reports dealt with the lessons to be learned for a pandemic policy that is both prudent and effective.

Results

Although economic life slowly got back on track after the lockdown, one of the major risks was a massive market exit by companies and the destruction of long-term, highly productive structures. However, many of the consequences of the corona pandemic, such as insolvencies and unemployment, will only become apparent after a long delay. The design of policy measures to avoid long-term negative effects of the corona pandemic on the quality of Saxony as a business location and to ensure the competitiveness of companies should be based on strict criteria. It makes sense to rely on both the proven decentralized approach and the willingness of citizens to cooperate. In Saxony, there has not been an unusually high mortality rate among the population in the course of the corona pandemic so far.