“The Ukraine war has caused massive damage to the German economy,” Marcel Fratzscher, the head of the German Institute for Economic Research (DIW) told Reuters in an interview published Wednesday. Twisting the issue (which in reality is related to the ongoing German government’s war economy drive and the sanctions) by blaming Russia for it, Fratzscher’s calculations are nevertheless telling:
Of the 4.5 percent increase in gross domestic product (GDP) this year that was thought possible at the beginning of the year, at best an increase of one-and-a-half percent could remain, largely due to the economic consequences of the war, he said.
