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<p class="wp-block-paragraph">You thought 2020 was already going on as the worst year?It seems like it&#8217;s not done yet.</p>



<p class="wp-block-paragraph"><br>2020 is a year that keeps on giving, but in this case, it keeps on taking.<br>Coronavirus has hit the global economy and has already helped the oncoming recession appear faster, that&#8217;s no secret.<br>However, businesses and common men are not the only ones hit with stress; of course, the stress bows down to the people in charge too.<br>According to the latest reports, Thomas Schaefer, the finance minister of Germany&#8217;s Hesse state, which includes Frankfurt, found dead near a railway track.</p>



<p class="wp-block-paragraph"><br>The mentioned politician left a suicide note before he did the unthinkable, as reported by the German daily Frankfurter Allgemeine Zeitung.<br>He also addressed the media regularly during the tough Coronavirus Crisis.<br>As he was a member of Chancellor Angela Merkel&#8217;s centre-right Christian Democrats (CDU). Mr Allgemeine Zeitung been active in Hessian state politics for more than two decades and was a finance minister for almost ten years.</p>



<p class="wp-block-paragraph"><br>Mr Bouffier, who is also a politician at CDU, mentioned that he had received the news with &#8220;sadness and disbelief.&#8221;<br>Bouffier also made the statement that &#8220;His main concern was whether he could manage to fulfil the huge expectations of the population, especially in terms of financial aid,&#8221; Bouffier said on Sunday. &#8220;He clearly couldn&#8217;t see any way out. He was desperate, and so he left us. That has shocked us, has shocked me.&#8221;<br>He also added &#8220;Our sincere condolences go to his closest relatives,&#8221;</p>



<p class="wp-block-paragraph">The International Labour Organization (ILO) mentioned that around 25 million jobs could be lost worldwide, which can lead to shuttering the global economy. Compared to it, the 2008-2009 recession caused the unemployment to peak by 22 million, as most of us stay at home in the worldwide Coronavirus pandemic</p>



<p class="wp-block-paragraph">The UN body, however, mentioned it on a lower scale of around 5.3 million if the economic situation is contained, which was caused by the Coronavirus.</p>



<p class="wp-block-paragraph">Germany&#8217;s influential Ifo think tank&#8217;s reports a partial economic shutdown could lead to a loss in between 7.25 and 20.6% of GDP, which is based on a range of estimates and assumed partial shutdowns range from one to three months in length.</p>



<p class="wp-block-paragraph">&#8220;The costs are likely to exceed anything Germany has experienced in recent decades as a result of economic crises or natural disasters,&#8221; President of Ifo, Clemens Fuest, said. &#8220;The crisis will also cause massive upheaval in the job market. This could put the situation at the high point of the financial crisis into the shadows.&#8221; He also mentioned.</p>



<p class="wp-block-paragraph">So, by reading this article, we are sure that you have also predicted by now that 2020 is going to be a very tough year for everybody all around the world.We understand you must be scared too, and it&#8217;s okay to be scared.<br>But &#8220;with down, there&#8217;s always a place for ups.&#8221;<br>Next, some months are gonna be tough all around the world,so keep your savings ready and hope for the ups to come soon.<br></p>

German state minister commits suicide amid Coronavirus hit economic pressure
