Because in Germany the worst winter for energy and economy will be 2023: the IMF alarm

Gita Gopinath, Deputy Director of the International Monetary Fund: “The energy crisis will not go away quickly, energy prices will remain high for a long time. The winter of 2023 could be the worst.”

Author: Davide Falcioni

currant temporary bag even in rich and economically solid Germany. According to gopinath tourdeputy director of the International Monetary Fund (IMF), the dark times that the country is about to experience will be just a taste of what can come in a year.

The economist – in an interview he gave to the Handelsblatt newspaper – announced that the energy crisis “It won’t end anytime soon” for Germany: if it is true that the country will have to face a very “difficult” winter – the next one – it is equally true that the 2023 “could be even worse”.

The deputy director of the International Monetary Fund explained that “the energy crisis will not disappear quicklyenergy prices will remain high for a long time “and this will have consequences for German citizens and companies, already hit hard by the current weakness in global growth. Germany has a stronger industrial system than other countries and” these companies were already struggling with supply chains disrupted during the coronavirus pandemic, and now we’ve increased rapidly rising energy costs,” said Gopinath.

“Germany is an industrial zone and therefore currently feel the effects of these shocks particularly clearly”Therefore, investments to expand renewable energy production must be implemented significantly. But Germany also needs reliable energy supplies from other countries.” The federal government is working on both fronts,” said Gopinath.

The International Monetary Fund lowered its growth forecast for Germany last week. Unlike France, Spain and Great Britain, economic output in Germany is expected to contract in 2023, specifically by minus 0.3%.

Source: Fan Page IT