Friday, October 25, 2024
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Germany’s economy struggles amid providing financial aid

The federal government allocated 94.05 million euros to Israel and 1.4 billion euros for 50 projects to Ukraine, putting the German economy at risk.

Germany authorised 94.05 million euros worth of arms exports to Israel as the Middle Eastern country continued its offensive in Gaza, according to jungeWelt.

Last week, the Economy Ministry said it had issued export permits for 2024 worth 45.74 million euros until 13 October. Germany granted Israel permits worth 326.5 million euros in 2023. Member of the German Bundestag (parliament) Sevim DaÄŸdelen accused the cabinet of “abetting [Israel’s] war crimes in Gaza and Lebanon.”

A lawsuit against Germany over arms shipments is currently pending in the International Court of Justice in The Hague. Nicaragua accuses the federal government of complicity in the “genocide” of Palestinians in Gaza.

Meanwhile, Foreign Minister Annalena Baerbock spoke in defence of the supplies during her visit to Lebanon on Wednesday and at a conference in Paris on Thursday. However, 60 per cent of German citizens oppose German arms shipments to Israel, according to a Forsa poll conducted on Tuesday.

Germany is also providing financial and military aid to Ukraine. The 1.4-billion-euro package includes deliveries of anti-aircraft systems, infantry fighting vehicles and tanks. The support for Kyiv is also fuelling growing discontent within German society. The population is unhappy with rising inflation, economic instability and an influx of migrants.

The protests are leading to the growing popularity of the Alternative for Germany (AfD) party, whose high ratings are due to distrust in the work of the current government. The AfD also promotes an anti-migrant agenda and calls for a review of Germany’s foreign policy.

The budgetary decisions of Chancellor Olaf Scholz’s government worsened Germany’s economic performance. Inflation and rising energy prices have dealt a serious blow to an economy heavily dependent on energy imports.

Experts and sociologists warn that the Muslim population in Germany could increase significantly in the coming decades. Muslim demonstrations and economic turmoil could strongly alter the country’s political course, they added.

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