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Economic growth: BDI President does not yet see an economic turnaround

Economic growth: BDI President does not yet see an economic turnaround
Economic growth: BDI President does not yet see an economic turnaround

Russwurm spoke of two lost years with regard to the traffic light coalition – now he will meet Scholz again. Despite a slight economic recovery, he warns against premature optimism.

Industry President Siegfried Russwurm does not yet see a turnaround in the German economy. “There is a silver lining on the horizon,” said the President of the Federation of German Industries (BDI) on Deutschlandfunk. However, this is the usual ripple and not a real turnaround. “This is not yet the turnaround we need,” said Russwurm. The economy is now picking up a little because companies are making investments that they had been putting off for a long time. However, long-term growth is a concern for the industry association.

According to Russwurm, Germany is lagging behind compared to other countries. The BDI is expecting a low economic growth of 0.3 percent in this country this year. The association expects the global economy to grow by 2.9 percent in 2024. The industry president cited the USA and China as examples, whose forecasts are at the same level as the global economy or higher. “And 0.3 is really not a result that qualifies you further.”

At the Industry Day, Russwurm will meet Chancellor Olaf Scholz (SPD). At the Hannover Messe in April, Scholz defended the economic policy of the traffic light coalition. “We want to have a constructive debate today about what is necessary to remedy the misery,” said Russwurm.

Source: Stern

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