Production in Germany will fall sharply by 65% due to the lack of gas from the Nord Stream pipeline. About informs Bloomberg cites Goldman Sachs calculations.
“If Russia doesn’t allow gas via Nord Stream, Germany will have no choice but to go through mandatory rationing. This will lead to a 65% reduction in production.”
September 9 in the material of the German newspaper Handelsblatt reportedHe said that the sharp rise in prices and the scarcity of energy resources will lead to a decrease in GDP in Germany, a wave of bankruptcy and unemployment in the country. Citing a report by analysts from the Institute for the World Economy (IME), the publication wrote that in 2023, Germany’s GDP will fall by 150 billion euros, in the range of 0.7% to 1.4%. It will accelerate to 8.7% and energy costs will increase by €260 billion.
Prior to that, it was known that German gas importer Uniper had agreed that it would consider rationing Germany’s fuel consumption after Russia’s decision to suspend transportation through the Nord Stream gas pipeline.