[Ticker] Russia’s war to cost Germans €260bn

EU Reporter

Russia’s war in Ukraine is to cost Germany’s economy some €260bn by 2030 according to a study by the Institute for Employment Research. Its GDP will fall by 1.7 percent by next year, putting 240,000 Germans out of work, due to high energy prices, which will hurt the chemicals and metals industries, it noted. Inflation will also see Germans spend less on leisure, hitting the hospitality industry, it added.