16:37 - 20.02.2023

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February 20, Fineko/abc.az. Russia's invasion of Ukraine and the rise in energy prices provoked by the war caused the German economy to lose €100 bn.

ABC.AZ reports, quoting Marcel Fratcher, the president of the German Institute for Economic Research (DIW).

Fratcher noted that "the jump in energy prices associated with the war in Ukraine cost Germany almost 2.5% (economic growth) in 2022, or €100 bn".

He stressed that the high cost of energy carriers will remain a competitive disadvantage of Germany in the next 10 years. In this regard, he recommended that companies from Germany compensate for this factor with a higher level of productivity and accelerated pace of innovation.