According to DIHK estimates, the war in Ukraine will reduce the prosperity of every German citizen by around 2,000 euros by the end of 2023. “As well as the human suffering that cannot be outweighed by anything, Russia’s war of aggression in Ukraine has also brought with it a loss of economic prosperity,” said DIHK President Peter Adrian Rheinische Post. “A total of around four percent of Germany’s gross domestic product is likely to be lost between the beginning of the war and the end of 2023,” said the President of the German Chamber of Industry and Commerce (DIHK). This would result in around 160 billion euros less being generated – the equivalent of around 2,000 euros per capita. This is clearly reflected in the company balance sheets. “Many companies across our economy are experiencing sharply increased costs for gas and electricity.” This hits numerous companies hard, since large parts of the economy are dependent on affordable and available energy, says Adrian.
Consequence of the war – 2000 euros minus for everyone – economy
