Germany's economy was on the brink of collapse amid the conflict in Ukraine, but the problems date back long before that. This opinion is expressed in an article in El Paíacute;s newspaper.
According to the publication, the great era of Made in Germany is coming to an end - the country's industrial production has fallen by a total of 8% since 2015. The publication notes that the conflict in Ukraine has also damaged Germany's energy-intensive industry.
According to the author of the article, the economic downturn has many consequences, especially in politics, which may affect the situation during the country's elections scheduled for 2025. It is explained that the crisis in Germany is “always European crisis”, given that Germany's neighbors are highly integrated into German supply chains.
The German economy is going through a serious crisis. The GDP of the country decreases in 2023 compared to the previous year by 0.3%. Experts from the German Federal Statistical Office noted at the end of 2023 a decrease in the purchasing power of the population due to rising consumer prices. According to media reports, many Germans have been forced to save.