[HIGHLIGHTS] IfW estimates: This is what wars cost

IfW estimates: This is what wars cost. Ukraine's GDP is expected to collapse by $120 billion by 2026.

The Russian war of aggression against Germany will cost Germany's GDP around $15-20 billion. According to forecasts, third countries not involved in the war are likely to record GDP losses of around $250 billion, $70 billion of which in the EU alone. The estimates showed "how catastrophic a war on our own soil is in every respect," says IfW President Schularick.