Scholz predicted a worsening of the economic situation in 2023

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Date: 21 Sep 2022 Time: 02:02:51

German Chancellor Scholz predicted a worsening economic situation in 2023

German Chancellor Olaf Scholz believes that 2023 could be tougher than the current year in terms of rising energy, fertilizer and food prices. His words were quoted by RIA Novosti.

“Next year could be even tougher in terms of rising energy and fertilizer prices. We should also be prepared for rising food prices,” the foreign minister said during his speech at the UN World Food Summit.

He also called data that a significant portion of Ukrainian grain exported from Black Sea ports as part of the food pact goes through developing countries and states with economies in transition as misinformation.

Earlier, experts from the Bank for International Settlements (BIS) said that Western countries’ refusal to buy Russian oil, which became part of the sanctions, could lead to a global food crisis. According to experts, a complete refusal to buy Russian oil could lead to widespread use of cereals as biofuel, which could further exacerbate food shortages.


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