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