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By Maria Martinez
LUXEMBOURG – According to German Finance Minister Christian Lindner, Germany’s economic model is not failing; however, the country’s competitiveness has diminished over the past decade.
"We cannot be satisfied with the economic developments in Germany," he stated to reporters prior to a Eurogroup meeting.
A representative from the economy ministry announced on Monday that the German economy is projected to shrink by 0.2% in 2024, marking a downward revision from an earlier estimate of 0.3% growth for this year.
Lindner noted that the government is implementing supply-side measures to stimulate growth.
"After these reforms, Germany will regain its competitiveness," he asserted, emphasizing that this growth initiative is only the initial step toward an economic recovery, "but we need to build on it."
