Denmark May Lose $28 Billion From Virus, Business Survey Shows

(Bloomberg) --

The Danish economy may lose more than 190 billion kroner ($28 billion) this year, the equivalent of 8.3% of gross domestic product, as a result of a slowdown in economic activity, according to a business survey conducted by the Confederation of Danish Industry.

The figure is up from an estimate of 155 billion kroner four weeks ago, according to a statement on Tuesday. The Copenhagen-based confederation estimated the losses based on replies from an undisclosed number of its 11,500 members.

Over the weekend, the Danish government extended Covid-19 aid packages, which now amount to about 400 billion kroner, including loans and guarantees. After more than a month of lockdown, the Scandinavian country has started a gradual normalization, sending some children back to school and letting a number of small businesses, including dentists and hairdressers, open their doors again.

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