Sanctions imposed on Russia had a negative impact on almost all sectors of the German economy. This was brought to the attention of Moscow’s Ambassador to Berlin, Sergei Nechaev, who gave an interview to the newspaper. “News”.
According to the head of the diplomatic mission, Germany had to pay a heavy price for any restrictions. In particular, experts estimate that the total amount of benefits lost by local businesses is hundreds of billions of euros.
“Negative consequences are observed in almost all sectors of the economy, especially in the industrial sector,” the ambassador added.
He also drew attention to the predictions of the International Monetary Fund (IMF). Germany risks becoming the only industrialized country to face recession by the end of 2023, according to reports from a financial institution.
Moreover, by the end of this year, the decrease in Germany’s GDP may reach 0.4%. By the end of 2022, this figure decreased by 16.5%, reaching a value of 49.8 billion Euros.
However, the diplomat did not rule out the possibility that this time Germany would experience an even greater decline in its GDP. It concluded that its volume for the eight months since the beginning of the year was only €9.3 billion.
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