• Fri. Mar 1st, 2024

Germany’s Economic Downturn: How Structural Reforms Can Turn the Country Back on Track

ByEditor

Feb 12, 2024
Finance Minister: Germany’s Economy Struggling, Not in Good Shape

At an event at the London School of Economics, German Finance Minister Christian Lindner stated that Germany is not the sick man of Europe, but rather an unfit man in need of structural reforms. According to forecasts by the International Monetary Fund, German economic growth is expected to remain at 0.9% in 2024, well below the average of 1.4% for advanced economies.

Lindner emphasized that although the German economy is healthy, it is not in the best shape and is currently in a downturn. To address this challenge, he suggested that Germany needs to reduce red tape, attract workers into the labor market, and mobilize private investment as part of structural reforms. He also mentioned the need for a single capital market for private investment in the EU, rather than relying on subsidies, which he believes is not sustainable in the long run.

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