Germany’s economy is not in good shape, says finance minister

From “Sick Man” to “Tired Man”: German Finance Minister Urges Structural Reforms to Boost Economy

On Monday, German Finance Minister Christian Lindner spoke about the need for structural reforms to strengthen Germany’s competitiveness. He emphasized that despite being considered healthy, Germany’s 0.9% expected economic growth remains well below the 1.4% average for advanced economies in 2024. Lindner highlighted that although the German economy is not the “sick man of Europe,” it is currently in a downturn, similar to the British economy.

In January, during the World Economic Forum, Germany was referred to as a “tired man” in need of structural reforms. Lindner specified that the country needs to reduce red tape, attract workers into the labor market, and mobilize private investment to improve its economic situation. In addition to emphasizing the need for structural reforms in Germany, Lindner also highlighted the importance of creating a single capital market for private investment in the European Union. He believes that this is a more viable solution than continually providing subsidies, as it is unlikely that any economy can sustain extensive subsidy payments.

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