In a factory owned by the sports car manufacturer Porsche in Stuttgart
Image: dpa
The German economy is doing badly, and that has consequences: the era of high tax surpluses is over and corporations are starting to cut jobs. But politics is not the only thing to blame for the overall situation.
WIf even the federal government can no longer sugarcoat the German economic situation, then the problem can no longer be denied – and the ministers' formulations now even sound quite drastic. Economics Minister Robert Habeck called German growth last week “dramatically bad,” and Finance Minister Christian Lindner even used the word “embarrassing.”
The federal government only expects economic growth of 0.2 percent for the current year, which does not even compensate for the decline of last year. Since the Corona outbreak, the German economy has practically not moved forward, there is hardly a country in Europe that is developing weaker than Germany – and the gap to the USA is growing from year to year anyway.
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