As of: February 15, 2024, 5:03 p.m
By: Patrick Mayer
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After the traffic light federal government drastically revised the economic forecast for Germany downwards, Federal Finance Minister Christian Lindner is also sounding the alarm.
Berlin - How bad is the German economy as a whole really?
At the Liberals' Political Ash Wednesday, Federal Finance Minister Christian Lindner (FDP) reacted with drastic words to the downwardly revised economic forecast of the traffic light coalition, of which the Liberals are part.
Economic growth in Germany in 2024: Christian Lindner speaks of “embarrassing”
“I find this downright embarrassing and socially dangerous,” said the 45-year-old minister at the FDP event in Potsdam, Brandenburg.
“If we do nothing, our country will fall behind,” Lindner continued: “Then Germany will become poorer.”
According to the latest assessment by the traffic light government made up of the SPD, Greens and FDP, the economy in Germany will only grow by 0.2 percent in 2024.
Robert Habeck's (Greens) Federal Ministry of Economics originally assumed economic growth of 1.3 percent in its autumn forecast, but had to revise this figure significantly downwards in February.
Federal Finance Minister: Christian Lindner from the FDP.
© IMAGO/Thomas Koehler
Economic growth in 2024: Germany is at the bottom of the EU
Germany will end up back in the bottom group of industrialized countries, explained FDP leader Lindner.
His forecast corresponds to that of the EU Commission, according to which Germany will remain at the bottom of the European Union (EU) countries in 2024.
The authority expects growth of 0.9 percent for the entire EU in 2024, according to an estimate published in Brussels on Thursday (February 15).
The EU Commission therefore assumes that the economy in Germany will grow by 0.3 percent this year.
Berlin is even more skeptical.
Economics Minister Habeck declared on Wednesday (February 14) that the lowered economic forecast was “dramatically bad”: “We cannot continue like this.”
If we do nothing, our country will fall behind.
Then Germany will become poorer.
Federal Finance Minister Christian Lindner (FDP)
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“Overall, we need to invest more in this country again and get economic growth going,” said the Green politician at a trade policy forum in Leipzig and, according to
Bild
, suggested a reform of the debt brake in order to be able to take on new debt.
One coalition partner in the federal government, the FDP, firmly rejects this.
Economic growth in Germany: It should get slightly better in 2025
After all, the traffic light coalition expects some improvement for the coming year.
An increase of 1.0 percent in gross domestic product (GDP) is expected for 2025.
But: In autumn 2023, the German government had forecast economic growth of 1.5 percent for 2025.
Lindner warned that the promise of advancement in society would be in danger if the trend was not reversed.
(pm)