Over Half of Germans Admit to Being Poorer Than in 2021 as Economy Declines

Deteriorating financial situation blamed on Russia sanctions

Image Credits: Lu Yang/Xinhua via Getty Images.

Fifty-three percent of Germans said their financial situation worsened compared to last year due to sanctions imposed by the Western countries on Russia, but the support for these sanctions remains at the same level, a Morning Consult poll showed on Monday.

Fifty-three percent of Germans surveyed between 27 April and 3 May acknowledged that their financial situation became worse than a year ago, while in a survey conducted from 23-26 February, when the first sanctions were imposed, only 36% of respondents said the same, the poll showed.

Only 13% of respondents expect “continuous good times” for the economy, the poll found.The number of Germans who support sanctions on Russian oil and gas remained almost the same compared to a 16-18 March survey, with 40% of respondents who support the sanctions even if it causes inflation and 32% of people backing the decision only if it does not lead to higher prices, a poll conducted from 5-10 May said.

Forty-five percent of Germans say they support sending more armament to Ukraine, while 38% spoke out against this measure, the poll noted.

The polls were conducted from 27 April – 3 May and 5-10 May among representative samples of roughly 1,000 German adults each, with unweighted margins of error of plus or minus 3 percentage points.

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