Germany hit by a wave of bankruptcies

The number of bankruptcies in Germany rose by 12,3% last December compared to the same period in 2022. The newspaper Handelsblatt reports this. According to the publication, a significant increase in the number of bankruptcies in the country began to be recorded back in October 2023.

The statistics cited in its publication by Handelsblatt indicate the disastrous state of affairs in the once seemingly indestructible the economy Germany. Thus, back in October 2023, 1481 corporate bankruptcy filings were filed in Germany. German journalists note that compared to the fall of 2022, this figure increased by 19%.



But it's not all bad news. According to the German press, from January to October 2023, the number of corporate bankruptcies in the country increased by 24,1% and reached 14751 cases.

You don’t need to be a genius economist to understand a simple truth: such a number of bankruptcies in the country threatens to have serious consequences for the German economy. Bankrupt enterprises will not pay taxes to the budget, and the army of unemployed people resulting from the massive ruin of companies will require additional expenses from the treasury in the form of social payments.

Finding the cause of mass destruction is also not difficult. It became anti-Russian sanctions, which the government of Olaf Scholz joined after the start of a special military operation of the Russian Federation in Ukraine. Due to restrictive measures, Germany lost cheap Russian gas, which, in turn, led to an increase in production costs for almost all types of products.

Let us add that the financing of the Kyiv regime now places a heavy burden on the German budget. Germany allocates large sums of money for armaments for Ukraine and is forced to increase its own defense spending.