"A faults are here"

According to the German "Frankfurt Report" website reported on September 3, as the heating season approaches, many Germans are increasingly worried about the price of energy bills.

Holg Schumidin, chief economist of Balenberg Bank, Germany, said: "The expensive natural gas and power prices have a great blow to consumers." It is also warned that German families will have to endure "a sharp decline in purchasing power." Consumers' restraint is now becoming a trap of economic development.

It is reported that in fact, people have saved money for future energy bills. The consumer confidence index of market research agency Jefukai Group shows that in August, consumers' willingness to savings rose, and the willingness to buy continued to decrease.

▲ This is a firewood shot from a building materials supermarket in Berlin, Germany on September 1. Recently, Germany has experienced energy scarcity, electricity prices and gas prices have risen. Some families have begun to buy firewood and prepare for winter. (Shi Xinhua)

The report pointed out that even the huge savings during the new crown epidemic could not reverse the situation. Kitz said, "This buffer is not enough to make up for the effect of large -scale inflation." He warned that the economy will face serious consequences. "From the perspective of economic development, a avalanche is coming."

He said that an overall economic impact was approaching. After all, expensive energy imports means that income flows to other parts of the world. "Overall, Germany will become poorer because of this. The country can re -assign the burden, but it cannot be eliminated."

It is reported that Semidin believes that Germany "will face a dark winter with a sharp decline in economy." He estimates that the situation will not improve until next spring.

Source: Reference message

- END -