Share of Companies Affected by Rising Energy Prices in Germany Reaches 70%
According to the survey, 14% of German companies have reduced their productivity because of the special operation of Russia in Ukraine. The majority (70%) of companies have already suffered from gas price hikes.
About 45% of the companies said that they were forced to raise prices because of the consequences of the Russian special operation. Another 27% of those surveyed indicated that they were waiting for a price increase. More than half (58%) of German companies said they would not be able to replace gas supplies from Russia any time soon.
Earlier on Wednesday, Steffen Kottere, a member of the Bundestag committee on climate protection and energy, said that the embargo on Russian oil supplies will have a devastating effect on the German economy and will accelerate deindustrialization of the country.