German economy forecast to shrink ...News

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German economy forecast to shrink
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The energy crisis and the conflict in Ukraine are expected to take a toll on the country’s GDP The German economy is expected to lose more than €260 billion ($265 billion) in added value by 2030 due to the conflict in Ukraine and high energy prices, Reuters reported on Tuesday, citing a study by the Institute for Employment Research (IAB). According to the study, Germany's gross domestic product (GDP) is set to be 1.7% lower in 2023, while the country will have about 240,000 fewer jobs. The employment level is forecast to stay at this level until 2026, when the after-effects of the current crises are expected to e

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