Residential real estate prices in Germany in the second quarter of 2023 fell by an average of 9.9% compared to the same period last year, according to a report by the Federal Statistical Office of Germany (Destatis).
The rate of decline has been the highest since the data began to be tracked in 2000.
In April-June 2022, housing prices in Germany reached a record level, according to Destatis.
Meanwhile, the decline in the value of residential real estate in quarterly terms continues to slow down, indicating that the market downturn caused by the general weakening of economic activity and rising mortgage rates may be nearing completion.
The house price index fell by 1.5% in the second quarter compared to the first quarter. For comparison, in January-March 2023, the decline was 2.9% compared to the previous quarter, and in October-December 2022, it was 5.1%.
German Finance Minister Christian Lindner said that the German government has included support for Ukraine, including military aid, in its budget planning until 2027.
“For the next few years we have already firmly planned further support for Ukraine in our budget planning. The government already agreed this a few weeks ago, and I have no doubt that it will also be confirmed by our parliament in the coming months,” Lindner said at a joint press conference with Ukrainian Finance Minister Serhiy Marchenko.
He noted that the planned EUR5bn of military aid is bilateral aid. In addition, Lindner added, Germany makes various financial contributions to the EU, provides support in the humanitarian sphere of Ukraine and Ukrainians fleeing the war in the FRG.
“You know that Germany is the largest contributor to the European budget. We also have a correspondingly high share of the future financial aid that the European Union has promised to Ukraine. In our state budget, we have allocated large funds for the military until 2027 so that Ukraine can continue to rely on our contributions in the coming years,” Lindner said.
The finance minister also emphasized that Germany’s support for Ukraine since the start of the full-scale invasion amounts to EUR22bn, of which EUR12bn is military aid.
The volume of industrial production in Germany in June decreased by 1.5% compared to the previous month, reported the Federal Statistical Office of the country (Destatis).
Experts surveyed by Trading Economics expected a decline of 0.5%.
In May, industrial production in Germany decreased by 0.1%.
The production of capital goods in June fell by 3.9%, consumer goods – increased by 1.8%, intermediate goods – increased by 0.4%.
Construction output fell 2.8% and electricity generation rose 0.6%.
German industrial production in June was 1.7% below the same month in 2022.
Germany has handed over a new aid package to the Ukrainian army, which includes vehicles, drones and ammunition, the press service of the German government has reported.
Thus, according to the published list, the new aid package includes 10 tracked all-terrain vehicles Bandvagn 206 (BV206), 13 reconnaissance drones Vector, 20 reconnaissance drones RQ-35 Heidrun, 6 anti-aircraft self-propelled launchers Gepard and 15 thousand ammunition for them, 2.6 thousand smoke shells of 155 mm caliber.
In addition, 8 ambulances and 8 dental sterilizers were handed over.
Germany has handed over a new military aid package to Ukraine, which includes 10 Leopard 1A5 tanks and 20 MG3 machine guns for tanks and armored vehicles.
According to the report published on the website of the German government, the new aid package also includes 1,305 155 mm caliber shells, 2,064 155 mm caliber smoke shells, 1 bridge system and 12 trailers, 4 vehicles for border protection, 10 ground radar stations, 16 Zetros trucks, as well as 100,000 first aid kits.
In addition to the tanks, Germany transferred 20 MG3 machine guns for Leopard 2 tanks, Marder BMPs and Dachs engineer tanks to Ukraine.
The German Armed Forces have extended to about 4 billion euros a contract with arms manufacturer Rheinmetall to make ammunition for Leopard 2 tanks, it is expected that some of this ammunition will be supplied to Ukraine, according to the Rheinmetall Group’s website.
“The Bundeswehr has extended the existing framework contract with Rheinmetall for the supply of tank ammunition worth around 4 billion euros…. The order expresses the armed forces’ desire to close the resulting stockpile gaps and increase the overall ammunition supply in view of the security situation. The framework agreement also provides for the delivery of a significant amount of tank ammunition for the Ukrainian Armed Forces,” the statement said.
It is also noted that “by the end of 2030 under the concluded framework agreement may be purchased several hundred thousand combat and training ammunition of various designs of 120 mm x 570 caliber, similar to those fired by the main gun of the Leopard-2 main battle tank.”
According to the company, the first delivery of ammunition worth about 309 million euros took place immediately after the contract was signed.
It is emphasized that for many countries that use the Leopard battle tank with 120mm smoothbore gun, Rheinmetall is the main supplier of ammunition of this caliber.
