Investment Executive on Nostr: Germany slashes growth forecast for 2024 ========== The German government has lowered ...
Germany slashes growth forecast for 2024
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The German government has lowered its growth forecast for 2024 to 0.2% from the previous forecast of 1.3%. The country is facing challenges such as a lack of skilled labor, excessive bureaucracy, high interest rates, and lagging investment in new projects. The loss of Russian gas supply has led to a spike in energy costs, contributing to high consumer inflation and reduced purchasing power. Slowing global trade and long-term issues like high interest rates and excessive red tape also affect Germany's economy. The government has attempted to address the shortage of skilled labor through immigration laws and shorter citizenship wait times. The conservative opposition has blocked a set of tax breaks, and the government had to revise this year's spending, including cancelling a subsidy for agricultural diesel fuel. Germany's economic troubles are attributed to these factors and the impact of the Russian gas supply disruption.
#Germany #EconomicGrowth #Forecast #SkilledLabor #Bureaucracy #InterestRates #Investment #TaxBreaks #Inflation #EnergyCosts #GlobalTrade
https://www.investmentexecutive.com/news/research-and-markets/germany-slashes-growth-forecast-for-2024/
==========
The German government has lowered its growth forecast for 2024 to 0.2% from the previous forecast of 1.3%. The country is facing challenges such as a lack of skilled labor, excessive bureaucracy, high interest rates, and lagging investment in new projects. The loss of Russian gas supply has led to a spike in energy costs, contributing to high consumer inflation and reduced purchasing power. Slowing global trade and long-term issues like high interest rates and excessive red tape also affect Germany's economy. The government has attempted to address the shortage of skilled labor through immigration laws and shorter citizenship wait times. The conservative opposition has blocked a set of tax breaks, and the government had to revise this year's spending, including cancelling a subsidy for agricultural diesel fuel. Germany's economic troubles are attributed to these factors and the impact of the Russian gas supply disruption.
#Germany #EconomicGrowth #Forecast #SkilledLabor #Bureaucracy #InterestRates #Investment #TaxBreaks #Inflation #EnergyCosts #GlobalTrade
https://www.investmentexecutive.com/news/research-and-markets/germany-slashes-growth-forecast-for-2024/