Companies are suffering from high energy prices.
(Photo: Qiagen/Weisflog/BMW)
Berlin The rising prices for energy and raw materials are affecting the substance of German industry. More than 90 percent of industrial companies see this as a “strong” (58 percent) or “existential” challenge (34 percent). This is confirmed by the survey “Situation in industrial medium-sized companies” by the Federation of German Industries (BDI), which is available to the Handelsblatt.
“Politicians must now take action to prevent insolvencies and further economic and social upheavals,” said BDI President Siegfried Russwurm to the Handelsblatt.
Since the start of the Russian war of aggression against Ukraine, the already high level of energy prices in Germany has risen more than in other countries. German industry is now paying wholesale gas prices for 2023 that are eight times higher than in the USA.
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