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| Germany is the economy most hurt by the Russia-Ukraine conflict. (Source: AP) |
According to the Swiss National Bank, since February 2022, Europe in particular has witnessed a sharp increase in energy prices, an influx of migrants, and heavy military spending...
Without a special military campaign, the economies of the five European countries would have had 0.1-0.7% higher GDP in the fourth quarter of 2022 and inflation would have been 0.2-0.4% lower.
The report also said the German economy was hit hardest, but the conflict in Ukraine also affected the economies of France, Britain, Italy and Switzerland.
Swiss experts predict that the situation will get worse in the future. According to Bloomberg , Germany - the largest economy in the European Union (EU) - will face stagnation this year, meaning there will be no GDP growth.
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