Germany’s Competitiveness Must Be a Priority, Says Finance Minister – Reuters

Germany’s economic competitiveness should be a political priority, as citizens express concerns about their economic future and seek alternative political solutions, stated Finance Minister Christian Lindner on Monday.

During an event in Berlin, Lindner emphasized the need for a growth-oriented policy, highlighting that Germany’s position in international competitiveness rankings has dropped from 6th a decade ago to 22nd in 2023.

In July, the cabinet approved a package of measures designed to stimulate the economy and enhance growth by over half a percentage point by 2025. While Lindner acknowledged this package as a “first step,” he cautioned that corporate taxes and energy prices would remain high, and bureaucracy would still pose challenges.

Lindner remarked, “No one is allowed to put their hands in their laps indefinitely afterwards.”

The proposed package awaits approval from both houses of parliament later this year, relying on support from the opposition. “The growth initiative must be passed quickly and without alterations,” Lindner stressed. “We have already lost too much time.”