Germany could lose at least 4% of GDP by the end of 2023 due to Russia’s special operation in Ukraine. In this respect informs Reuters referred to the message of Peter Adrian, President of the German Chamber of Commerce and Industry.
“This year’s Ukraine conflict will cost Germany 160 billion euros. We can say that this figure is 4 percent of the country’s GDP.
According to him, the decrease in GDP per capita in Germany could be at least € 2,000. All this is due to the fact that Germany is an industrial country, that is, the main part of the economy depends on industry. And with energy prices skyrocketing, the industry is in trouble.
The publication noted that the German GDP forecasts for 2023 and 2024 are not optimistic and even lower than that of many other countries.
On February 21, the Rheinische Post quoted the report of the German Economic Institute (IW). WroteThe situation in Ukraine cost the world $1.6 trillion in 2022. According to the report’s author, Michael Gremlingen, economic indicators in 2022 are $1,600 billion lower than they would have been without Russia’s special operation in Ukraine.
Prior to that, Marcel Fratzscher, head of the German Institute for Economic Research (DIW), said that Germany lost 100 billion euros last year as a result of Russia’s military operation in Ukraine and the consequent rise in electricity costs in Europe.