IWH: Shutting down Russian gas supplies would cause a recession in Germany

By: Trademagazin editor Date: 2022. 04. 26. 11:02

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Shutting down Russian gas supplies would push Germany into recession, but the effects would vary regionally, according to a study published Tuesday by the IWH Economic Research Institute.

Recession would await Germany if Russian gas supplies stop

According to calculations by the IWH (Leibniz-Institut für Wirtschaftsforschung Halle), significant economic damage is to be expected “where the manufacturing industry produces particularly high added value, for example in several districts and cities in southern Germany”. According to the IWH, in 2023, German gross domestic product could shrink by two percent. (MTI)