German industrialists warn about the serious economic situation in that country

German industrialists warn about the serious economic situation in that country
September 30, 2023 – 16:11


The president of the German Chamber of Industry and Commerce (DIHK), Peter Adrian, today called on politicians for measures to maintain Germany’s competitiveness as a business location.

In a letter addressed to the heads of all chambers of industry and commerce, as well as chambers of commerce abroad, Adrian describes the economic situation as “serious”, reported the German news agency DPA.

Among the obstacles facing Germany, he cites high energy prices, a lack of labor and qualified workers, poor infrastructure and high bureaucratic burdens.

Adrian pointed out that an “avalanche of regulations” overloads large and small companies, as well as public bodies, which can no longer keep up with the pace of controls; Therefore, he demanded relief for companies “urgently.”

The economic prospects of the main European economic power have darkened in recent months and the main economic research institutes drastically lowered their economic forecasts for this year.

According to the latest estimates, they expect gross domestic product to contract 0.6% in 2023, when just six months ago, experts were still assuming minimal growth of 0.3%.

Source: Ambito

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