IW: Conflict in Ukraine will cost Germany 175 billion euros 20:38

Germany’s growth loss in 2023 will reach 175 billion euros due to the conflict in Ukraine. This is proven by the results Research German Institute of Economics (IW).

The material states that threats associated with the Ukraine conflict will cost approximately €175 billion of added value, which when adjusted for prices, amounts to about 4.5% of GDP.

According to the researchers, in addition to the losses due to the COVID-19 epidemic, Germany will lose 595 billion euros.

During the study, the IW compared the current situation with the “counterfactual economic development” model, which implies a world in which the conflict in Ukraine did not begin.

It is stated that the direct loss of wealth can be estimated at € 2,000 per person living in the country.

formerly Bloomberg reportedGermany has become more dependent on coal, liquefied natural gas (LNG) and fuel from Norway, despite a 14% reduction in gas consumption and a refusal to buy fuel from Russia.

Source: Gazeta


Please enter your comment!
Please enter your name here


More from author

What happened in Moscow became clear after the drone attack 18:03

On the morning of May 30, drones (UAVs) struck residential buildings simultaneously in three districts of the capital - on Leninsky Prospekt near the...

Ukraine plans to deepen the canal on the Danube for grain exports 17:59

Ukraine's Deputy Minister of Infrastructure Yuriy Vaskov said that Ukraine wants to start work on deepening the canal on the Danube this year in...

Russian Ambassador to Serbia reported the situation in Kosovo 17:59

Russian Ambassador to Serbia Alexander Botan-Kharchenko said that the situation in Kosovo is approaching a critical point. It has been reported TASS."Such outbreaks...

Benzema transfers Saudi Arabia bid to Real Madrid

Real Madrid has encountered an inconvenience this week that it had not counted on. Karim Benzema is not sure if he will continue at...