 |
| (Photo: getty images) |
Germany, which is called the economic engine of Europe, also began to suffer under the burden of global inflation.
Germany, which has the world's strongest economy, also began to shake from the earthquakes of inflation. Due to rising prices, the wheel of domestic industries started to stop.
Where the global economies have suffered huge setbacks due to the Russia-Ukraine conflict, the prices are increasing uncontrollably.
On the one hand, the sharp increase in prices has severely affected the economic hub of Europe, Germany, while on the other hand, industries have cut back due to the cost of production.
A survey of 3,500 companies in Germany found that 16 percent of them are cutting production or partially shutting down business activities due to rising energy prices.
Peter Adrian, president of the Chambers of Industry and Commerce, which conducted the survey, said these were alarming figures because energy prices were a constant burden.
Germany relies on Russian gas to fuel its export-driven economy and power its industry. There will be a severe blow.
0 Comments