JAKARTA - German Finance Minister Lars Klingbeil said the Middle East conflict had cut the country's economic growth by half.
"The war ... against Iran has halved the economic recovery we had hoped for this year. This war is very harmful to Germany," Klingbeil said, quoted by Sputnik, Tuesday, July 7.
Due to the economic situation caused by the Middle East conflict, the German government was forced to take difficult financial measures, including delaying debt payments on previously borrowed funds.
On June 18, Iran and the United States signed a memorandum remotely which regulates the ending of the military conflict which started on February 28.
The document also sets a deadline for the US to lift its naval blockade of Iranian ports and for Iran to restore navigation in the Strait of Hormuz.
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