2024-03-03 20:38:45
According to forecasts, the German economy is only expected to grow by 0.7 percent this year. According to the economist Veronika Grimm, however, this is questionable.
According to economist Veronika Grimm, the Advisory Council for the Assessment of Overall Economic Development will revise the growth forecast for Germany downwards.
“We had forecast 0.7 percent growth for the current year, which probably cannot be maintained,” Grimm told the newspapers of the Funke media group on Sunday in advance. “We are in a phase of stagnation and the unfavorable demographics are significantly reducing our growth potential in the coming years,” explained the Nuremberg economist.
Economics calls for lower taxes for companies
Grimm emphasized that if one wants to increase growth again, it will demand a lot from society and added: “Unfortunately, this communication has not yet taken place in politics in this way.” In addition, the increasing right-wing extremism in Germany is a threat to growth opportunities because skilled workers from abroad are being deterred.
The economy demanded an attractive environment for innovative companies: “This includes sufficient and well-qualified skilled workers, less bureaucracy and lower taxes.” According to Grimm, the Council of Experts wants to present an economic update in mid-May.