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Robert Habeck and the looming recession: "The present isn't all that bad, but..."


The pandemic has been pushed back, says Robert Habeck. According to the Economics Minister, it would be a "masterpiece" if the second half of the year went as well as the first. The fear of the future is great in the country.

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Robert Habeck in the Bundestag building: According to the minister, the country has proven itself as a political system and as a society

Photo: IMAGO/Chris Emil Janssen / IMAGO/Chris Emil Janssen

According to Federal Economics Minister Robert Habeck, the first two quarters were “very good” for many sectors.

For example, there have been good growth rates in tourism, gastronomy or services, said Habeck at an event of the SPD economic forum in Berlin.

According to Habeck, the pandemic has been pushed back.

"The present is not all that bad, but the fear of recession, of the future, and even of the immediate future, is overwhelming." The current crises posed major challenges for the country in the coming months.

Scenarios are not laws of nature

According to the Greens politician, there is a risk of a loss of purchasing power due to high energy prices, falling domestic demand, companies' reduced willingness to invest and a further "division" of the social situation in Germany.

However, he also said that these scenarios are not laws of nature, but can be "solved" through regulation, the provision of public funds, social compensation and other measures.

In the past six months, action has been taken and legislation has been introduced.

The country has proven itself as a political system and as a society, said Habeck.

If the next two quarters were similar to the first two of the year, »then that would be a social, political masterpiece that is not really to be expected.

But it's in our hands to ensure that things don't go completely bad under very, very difficult conditions."


Source: spiegel

All business articles on 2022-07-05

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