Moscow criticizes Germany’s economic struggle
(MENAFN) Russia has criticized Germany for its economic struggles, attributing the country’s decline to its severed energy ties with Russia due to US pressure. Maria Zakharova, a spokeswoman for the Russian Foreign Ministry, argued that Germany’s economic growth in recent years was significantly driven by cooperation with Russia, particularly in the energy sector. However, following increasing US influence, Germany cut off its energy supply from Russia, including the destruction of the Nord Stream gas pipelines in September 2022, which Zakharova believes contributed to Germany’s economic downturn.
Zakharova stated that the loss of Germany’s ability to pursue an independent economic policy had led to a crumbling economy. German companies have started relocating to more favorable business environments as a result. Her comments align with recent reports from Bloomberg, which warned that Germany’s export-driven industries, especially its automotive sector, are facing irreversible decline. The German economy has been struggling with stagnation and zero growth for two years, exacerbated by poor government decisions and the loss of affordable Russian energy.
German Economy Minister Robert Habeck admitted the country’s economic model is facing challenges, citing insufficient investment in infrastructure, taxes, and workforce development. The German central bank recently lowered its growth forecast for the country, predicting a contraction of 0.2% in 2024. Additionally, if US President-elect Donald Trump follows through on his threat to impose tariffs on European goods, Germany’s GDP could shrink further.
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