Germany announced loss of competitiveness of the country’s economy
Chairman of the Confederation of German Employers’ Associations (BDA) Rainer Dulger criticised the ruling coalition in Germany and said that the country has lost the competitiveness of its economy, TASS reports
In an interview with the Frankfurter Allgemeine Zeitung, Rainer Dulger noted, “We no longer have a competitive production site. In light of the conflict in Ukraine, gas supplies from Russia stopped and for a relatively long time it was unclear whether it would be possible to somehow bring this under control. This was done, but at too high a cost.”
According to him, it’s now necessary to take the warnings of companies in Germany more seriously. Energy costs in the country are currently too high, including due to taxes and duties.
“But the coalition (Social Democratic Party of Germany, the Greens, the Free Democratic Party) does not listen to us. We are experiencing economic and political stagnation in the time of change: the train stopped at the very beginning of its journey. We have a deplorable state of road infrastructure and insufficient digitalisation of management.”
Earlier, the German government reported that the country’s GDP in 2023, against the backdrop of high energy prices, would decrease by 0.4 percent.
