Ifo Institute: EconPol Europe - Stopping Russian Energy Imports Could Cost Germany 3 Percent of Annual Economic Output
March 15, 2022
March 15, 2022
MUNICH, Germany, March 15 -- ifo Institute issued the following news release on March 14, 2022:
In the short term, a halt to Russian energy imports could cost Germany up to 3 percent of its gross domestic product. This is the result of estimates by the EconPol Europe network calculated with a simulation model. Oil and coal could be replaced by imports from other countries, but it is harder to find replacements for gas, the authors write. "Germany should take quick and decisive . . .
In the short term, a halt to Russian energy imports could cost Germany up to 3 percent of its gross domestic product. This is the result of estimates by the EconPol Europe network calculated with a simulation model. Oil and coal could be replaced by imports from other countries, but it is harder to find replacements for gas, the authors write. "Germany should take quick and decisive . . .