On the 17th, the German Institute for Economic Research released the latestresearch report“The Economic Consequences of the Ukraine Conflict”, the report shows that the Ukraine conflict is putting enormous pressure on the German economy.
The German Institute for Economic Research surveyed regarding 2,000 companies in various industries. The findings show that regarding three-quarters of companies are affected by high energy prices, and more than one-third are threatened by bottlenecks in the supply chain or energy supply. As the situation develops, so do worries regarding the economy. In the medium term, the burden on German companies is expected to increase further.
At present, imports of raw materials from Russia and Ukraine have been severely affected. If this continues for longer, there is a risk of sustained losses to the German economy, the report said. In addition, the highly uncertain political and economic impact has also put enormous pressure on German companies. Many companies have had to make fundamental adjustments, and industrial production, logistics networks and sales channels have all changed.
The report believes that the probability of economic cooperation between Germany and Russia returning to normal in the short term is becoming increasingly low. Against the backdrop of political uncertainty, the specific economic impact in the medium term remains to be seen, the burden on businesses is expected to increase further, and energy supplies may be threatened. The possibility of further sharp rises in energy prices cannot be ruled out.
(Article source: CCTV News Client)
Article source: CCTV News Client
Responsible editor: 98
Original title: Ukraine conflict has a major impact on the German economy, energy prices may rise further
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