If Germany falls into recession, businesses could jump ship
09 August 2022 | 3:28 pm
Data suggest that Germany may be on the brink of an economic downturn that could ultimately lead some businesses to move abroad.
Germany's foreign minister told DW that Moscow's justification for focusing on territory beyond the Donbas does not stack up. She also said Berlin must not leave itself open to blackmail from other states.
Many were hoping the nation-wide rail pass would be extended in the face of rising energy costs. According to a recent poll, most Germans said they supported lower rail prices, subsidized by the government.
Germany hosts more than 900,000 Ukrainian refugees, most of them women and children. While many want to return home, others say they plan on staying. DW spoke with two families in Cologne.
German businesses have been losing confidence in the current economic climate as growth prospects worsen. The ifo Institute that published the survey pointed to high energy prices.
Russia's Gazprom said it would again reduce gas deliveries through Nord Stream 1 by 20% for 'repairs,' cutting the current flow in half. The new blow to supply comes as Europe scrambles to store gas for winter.
Hundreds of thousands of Ukrainian refugees have arrived in Germany since the Russian invasion in March. They were promised access to housing, financial support and the job market. But things have not been that easy.
The International Monetary Fund (IMF) has cut its global growth forecast to 3.2% amid high inflation and the war in Ukraine, and warned the world could be "teetering on the edge of global recession."
The carrier's ground staff went on strike, prompting more than 1,000 flights to be canceled. The walkout comes as air travel industry faces several crises.
Inflation in Germany is likely to start dropping again over the rest of the year, according to a prestigious economic think tank. But researchers warn food prices may still rise.
A new levy on gas consumers in Germany could cost households up to €1,000 a year. Germany's Economy Minister Robert Habeck said the move was not good, but was "necessary."
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