Wed, 10 Aug 2022

The impact of the sanctions war with Russia is making Germans anxious about their future

Nearly a quarter of German workers are afraid to lose their jobs due to the impact of the conflict in Ukraine and related anti-Russia sanctions on the country's economy, the Berliner Zeitung newspaper reported on Tuesday, citing a survey by the market research institute Trendence.

According to the survey, 23.3% out of the 1,830 working Germans interviewed said they were concerned about losing their employment "because of the war in Ukraine," while nearly half (44.8%) of those surveyed are forced to work from home due to high gasoline prices resulting from the Ukraine-related sanctions war between Russia and the West.

Furthermore, 49.2% of respondents also said they experienced mental stress because of the photos appearing in the media from the war zone, and every second respondent said their employer should support Ukrainian war refugees.

According to the survey, the consequences of the war are also making themselves felt at universities. Of the 1,777 students surveyed, 35% percent said they felt anxiety about their professional future.

READ MORE: German producer price inflation sets post-WW2 record ? report

Germany is suffering a cost-of-living crisis, with annual inflation having hit a 50-year high last month at 7.9% amid soaring global energy prices, propelled by Ukraine-related sanctions against Russia. The potential ban on Russian energy has also taken a toll on German industries, with many fearing closures due to the loss of energy supplies.

Consumer confidence in the German economy heading into July plunged to -27.4 points, to its lowest on record, while wage growth expectations fell to a twenty-year low of -33.5 points, from -23.7 points in June, according to the research company GfK.

For more stories on economy & finance visit RT's business section

(RT.com)

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