The head of the German Institute for Economic Research (DIW), Marcel Fratzscher, said Germany likely lost about 200 billion euros due to the war in Ukraine, with the main losses coming from explosive increases in electricity prices.
“The economic cost to Germany after two years of war in Ukraine is likely to exceed 200 billion euros. First of all, high energy prices led to a reduction in German economic growth by 2.5% or 100 billion euros in 2022 and by the same amount in 2023 “, – Fratzscher said in an interview with the German newspaper Rheinische Post.
The conflict in Ukraine has led to significant increases in energy bills, disrupted transport networks and put significant pressure on the global economy, creating serious problems for countries dependent on exports, the newspaper notes.
People with low incomes are hit the hardest
“The German state primarily supports businesses with huge subsidies, but people with low incomes have to tighten their belts,” the director added.
After Russia launched a special military operation in Ukraine in February 2022, the West decided to significantly reduce Russian energy imports and actively sought ways to reduce Moscow’s revenues, especially from oil and gas. In addition, the conflict in Ukraine has stopped the flow of Russian gas to Europe, which in turn has led to explosive increases in energy prices and shortages, forcing countries to look for alternatives, especially the United States with its LNG exports.
The German Parliament has approved the partial legalization of cannabis, DW reports.
The Bundestag has allowed the cultivation, storage and sale of weed. Now adults will be allowed to store up to 25 grams of pure marijuana or hashish for personal use. And grow up to three bushes at home for personal purposes. Also in Germany there will be special clubs that will be able to grow more “weed” and sell it among their members.
Thus, in Germany they want to fight the black market, drug trafficking, reduce crime, and also… distract the population from economic problems.
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