The crises and wars in the Middle East have become a real burden for Saxony's companies. According to a survey conducted by the Saxon Chambers of Industry and Commerce among companies in the Free State, businesses are complaining about rising costs, supply chain problems and falling sales. As a result, this is leading to declining competitiveness.
From around 1,500 responses to the survey, 84% of companies are already suffering from higher energy and transportation costs or fear cost increases in the future. 40 percent of them report falling demand. Around a third describe supply chain problems and rate the business risk as high.
According to the figures, industry, the transport sector, gastronomy and tourism are particularly affected. Just last weekend, Saxony's Minister President Michael Kretschmer (CDU) once again criticized the federal government's policy. "Germany is just shutting itself down," the CDU deputy told the "Frankfurter Allgemeine Sonntagszeitung". So far, it has not been possible to give the country a positive jolt. Among other things, Kretschmer criticized excessively high electricity prices for industry.
