Economics
Germany Faces $240 Billion Hit If Russian Energy Cut Off
- Sudden halt in Russian gas would trigger ‘sharp recession’
- Experts see economy expanding 2.7% in 2022, 3.1% in 2023
Companies are seen as particularly vulnerable because of Germany’s reliance on Russian gas.
Source: Bloomberg
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Germany was warned it could face a 220 billion-euro ($240 billion) hit to output over the next two years in the event of an immediate interruption in Russian energy supplies over the war in Ukraine.