Germany 2023: Financial expert paints a bleak picture
Many Germans are now prepared for a winter full of deprivation. But there shouldn’t be any improvement in the coming year either – on the contrary. The winter of 2023/2020 could be even harder. A well-known IMF expert is therefore making a clear request to politicians.
Saving energy, saving energy, saving energy: Germany hasn’t known any other topic for months. The Russian war of aggression in Ukraine has made the energy supply insecure, and gas in particular could become scarce in the winter months – and bring the domestic economy to its knees. Citizens are prepared for deprivation this winter. The real stress test could still be in the house.
IMF boss: Winter 2023/2024 could be even more difficult
“This winter will be difficult, but that Winter 2023 could get even worse“, so the gloomy prognosis of Gita Gopinath (source: Handelsblatt). As Vice President of the International Monetary Fund (IMF), the economist knows the economy very well, and her assessments carry weight.
As a country with a large industrial sector, Germany is particularly hard hit by broken supply chains and high energy prices. The 50-year-old does not see a quick improvement: “The Energy prices will remain high for a long time. ”The IMF Vice-Technical Center is therefore aimed at the clear demand to to accelerate the expansion of renewable energies. Energy supplies from reliable countries are also needed.
After all, you can still save when shopping online:
Drastic words from the heads of Otto and DPD
According to the IMF, the German economy will shrink by 2.3 percent in the coming year. The bosses of Otto and the mail order company DPD recently described how tough times are in Germany. Otto’s sales in Germany fell by 13.5 percent. Otto boss Alexander Birken speaks of an unprecedented reluctance to buy.
DPD Germany boss Eric Malitzke puts it even more drastically: “The consumer climate is worse than when the pandemic broke out, and we are feeling the effects too.”
The forecast by IMF Deputy Head Gopinath fits into a gloomy overall picture for Germany.
