The German economy, whose products are predominantly export-oriented, has been hit hard by the worsening energy crisis. As a result, a number of German companies began to consider transferring their production to other countries. informs Die Welt newspaper quoted the words of Tanya Gönner, General Manager of the German Industrial Association (BDI).
“The German business model is under great pressure. One out of every four German companies is considering moving production abroad.”
According to him, high energy prices combined with the weakening national economic growth rate made the position of German companies more vulnerable compared to companies in other countries.
“High energy prices and the weakening economy are hurting the German economy and putting more pressure on our companies than on other international companies,” Gönner said.
In the current difficult conditions, representatives of the German economy are asking the country’s authorities to take comprehensive measures to protect the national economy. The report stated that otherwise Germany “will be heading towards a dangerous turning point”.
26 November issue of Welt am Sonntag reportedGerman industry representatives voice their concerns about possible power cuts in winter in connection with the energy crisis. The stability of the country’s uninterrupted electricity supply will be under threat during the upcoming warming season.