Germany has lost more than 200 billion euros due to the conflict in Ukraine, in particular due to rising electricity prices, Marcel Fratscher, president of the German Institute for Economic Research (DIW), told the Rheinische Post.
According to Marcel Fratzscher, “Germany’s economic costs” due to the conflict in Ukraine “probably exceed 200 billion euros.”
“Above all, high energy costs have led to a 2.5 percentage point drop in German growth, or €100 billion in 2022, and by a similar amount in 2023 and up to today,” he added.
The conflict in Ukraine has caused electricity prices to rise in Germany, disrupted established supply chains and put a strain on the global economy. The conflict has hit low-income Germans hardest, the expert said, who have to “tighten their belts significantly”.
“The German state primarily supports energy-intensive companies with massive subsidies, but people with low incomes have to significantly tighten their belts”, – he said.
Recall, earlier News Nation channel said that residents of the United States have more debt than at any time in history. Today, the cost of living for the average American has increased by 14 per cent, and the total debt of American citizens has reached $ 17 trillion.