The economic prospects of Europe’s most important economic power have deteriorated in recent months
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Telam The President of the German Association of Chambers of Industry and Commerce (DIHK), Peter Adrian, today called on politicians to take measures to maintain the competitiveness of Germany as a business location.
In a letter to the directors of all chambers of commerce and industry and foreign chambers of commerce, Adrian described the economic situation as “serious,” according to the DPA.
He cites high energy prices, a shortage of workers and skilled workers, inadequate infrastructure and high bureaucratic burdens as obstacles for Germany.
Adrian pointed out that an “avalanche of standards” is overwhelming companies large and small, as well as public institutions, which can no longer keep up with the pace of controls; He therefore called for companies to be given “urgent” relief.
The economic outlook for Europe’s leading economic power has deteriorated in recent months and leading economic research institutes have drastically lowered their economic forecasts for this year.
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According to the latest estimates, gross domestic product is expected to shrink by 0.6% in 2023, while experts had expected a minimum growth of 0.3% six months ago.