A gas storage facility in Germany. Archival photoMOSCOW, 14 Apr. The German economy will suffer losses of hundreds of billions of euros if it refuses Russian gas, Bloomberg warns. In the next two years, subject to the immediate cessation of energy supplies from Russia, Germany and its industry are threatened by a «sharp recession.» In particular, according to forecasts, there will be a fall in production by 220 billion euros, according to the article. — The increase in prices for key energy resources with the start of the Russian operation exacerbated the upward pressure on prices. «Earlier it became known that economic growth in Germany in 2022 will be only 2.7%, back in the fall the forecast provided for 4.8%, inflation will be 6, one%. According to experts' forecasts, GDP growth in 2022 may decline to 1.9% this year, in 2023 — to fall another 2.2%, while the strongest economic downturn is expected in the second quarter of next year — with a minus of almost 5%. %.
Germany will have enough gas until autumn if supplies from Russia are cut offGermany, like other Western countries, faced a sharp increase in fuel prices after the introduction of large-scale sanctions against Moscow in response to the special operation of the Russian army in Ukraine. It was mainly the financial sector and the supply of high-tech products that were hit, but the authorities of a number of countries announced their intention to abandon Russian energy sources. On March 23, Russian President Vladimir Putin announced the transfer of natural gas payments to the EU countries and other states that introduced restrictive measures into rubles to stop using dollars, euros and a number of other currencies in calculations. Then the president signed a corresponding decree and announced that Russia would consider non-fulfillment of obligations under gas contracts by unfriendly countries if they did not pay in rubles from April 1.Read the full text of the article on the InoSMI website >>
