German Finance Minister Christian Lindner will celebrate the 75th anniversary of the Federal Wholesale, Foreign Trade and Services Association (BGA) with the motto “We act for Germany” on Entrepreneurs’ Day 2024. I will give a lecture at Bernd von Utrzenka/DPA
German Finance Minister Christian Lindner said on Monday that the German government’s economic stimulus plan is just the beginning of the process towards growth.
“The German government’s growth initiative is a first step towards enabling a turnaround, but we need to build on it,” he said.
“The German economy is at a standstill. We cannot be satisfied with economic development. Structural changes are occurring that will reduce competitiveness,” he said.
The German finance minister was speaking ahead of a meeting of euro area finance ministers in Luxembourg to discuss economic growth and competitiveness in the European Union.
Germany’s struggling economy, the EU’s largest, is struggling to cope with the economic fallout from the war in Ukraine, changing trade patterns with China and rising energy costs.
These issues have a negative impact on the EU economy as a whole. Germany’s coalition government has been working to get the country’s economic performance back on track amid slumping opinion polls.
The German government’s growth initiative includes new rules for corporate tax deductions. However, not all measures were finalized by the Cabinet.
Changes may still be made in the German parliament.
Tax incentives for skilled workers from abroad are also controversial and could be blocked by Germany’s parliament on the grounds that they would reduce tax revenues for the German federal states.
