Germany, the exhausted man of Europe, admits finance minister.

January 19, 2024
1 min read

Germany’s Finance Minister Christian Lindner has admitted that the country’s economy is tired, but not sick. Germany narrowly avoided recession at the end of 2023, with its economy shrinking by 0.3% year-on-year. The economy has struggled with high energy costs, inflation, and interest rates, causing its manufacturing output to drop by 2% in 2023. Lindner described the low-growth expectations as a wake-up call and emphasized the need for structural reforms. However, research firm Capital Economics forecasts no growth for Germany in 2024. The German government is aiming to save €17 billion in its budget through cost cuts and ending climate-damaging subsidies after a budgetary crisis at the end of last year. Despite the challenges, Lindner stated that Germany has successfully solved its debt issues.

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