🔶 Warning Bell of “Water Shortage” for Germany’s and Europe’s Economy and Agriculture

A drought and an unprecedented drop in river water levels in Germany and Europe have affected everything from transportation and power generation to agriculture and economic growth.

Economists warn about reduced economic growth in Germany, energy experts warn of the possibility of limited electricity production, and farmers are concerned about lower crop yields and rising food prices. At the same time, estimates by the European Union point to a significant decline in the output of many agricultural products in the west and center of this continent.

The newspaper “Bild,” citing Tilo Schaefer, an expert at the German Economic Institute, reports that Germany’s gross domestic product growth may be 0.4% lower than previously predicted. He warns that if shipping on the Rhine is disrupted for a long time due to reduced water levels, “it will also dry up that very small sapling of economic growth.”