The German Institute reported the loss of Germany € 100 billion due to a special operation

As the president of the German Institute for Economic Research (DIW) pointed out,A sharp increase in electricity costs due to a Russian special operation cost Germany € 100 billion in 2022Views of BerlinViews of BerlinViews of BerlinViews of BerlinViews of BerlinViews of BerlinViews of Berlin

Germany lost €100 billion last year as a result of Russia's military operation in Ukraine and the resulting increase in energy costs, Marcel Fratzscher, president of the German Institute for Economic Research (DIW), said in an interview with the Rheinische Post.

“The war in Ukraine and the associated surge in electricity costs cost Germany €100 billion in 2022. These costs will continue to rise in the coming years,” Fratzscher said.

Germany was hit particularly hard by the crisis, he said, "because it was more dependent on Russian energy and also has a high share of energy-intensive industry and is extremely dependent on exports and global supply chains."

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The energy crisis in Germany has been ongoing since early 2022. It was exacerbated by a sharp reduction in energy purchases from Russia. Vice-Chancellor and Minister of Economy of Germany Robert Habek said earlier that the energy crisis threatens to develop into an economic one, as well as a social one. At the same time, Chancellor Olaf Scholz noted that the period of Germany's "exclusive" dependence on Russian gas was over and the country was well prepared for the winter.

Earlier, the consulting company McKinsey reported that due to jumps in gas prices and reduced supplies, Germany in 2022 will lose €100 billion. According to the company's analysts, prices will return "to a level acceptable to the economy and citizens" only in 2025. According to the forecast of the International Monetary Fund, the German economy - the largest in Europe - will contract by 0.3% in 2023.