German Finance Minister Christian Lindner spoke on Monday about the importance of structural reforms to strengthen Germany’s competitiveness. He emphasized that despite Germany’s healthy economy, it is currently facing a decline similar to the British economy. In 2024, Germany’s expected economic growth of 0.9% remains well below the average of 1.4% for advanced economies.
Lindner pointed out that while Germany is not the “sick man of Europe,” it needs improvement and needs to reduce bureaucracy, attract workers to the labor market, and mobilize private investment. He also highlighted the need for a single capital market for private investments in the European Union, as continued subsidies are not a sustainable solution.
Despite being called a “tired man” at the World Economic Forum in January due to its weak performance compared to its peers in the eurozone, Lindner emphasized that Germany’s economy is still healthy but needs structural changes to maintain its competitiveness in the global marketplace. The finance minister called for a more balanced approach between government intervention and private investment, believing that this is key to ensuring long-term economic growth and stability in Europe.