{"id":134432,"date":"2024-10-09T07:40:26","date_gmt":"2024-10-09T04:40:26","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/germanys-economy-goes-from-bad-to-worse\/"},"modified":"2024-10-09T07:40:26","modified_gmt":"2024-10-09T04:40:26","slug":"germanys-economy-goes-from-bad-to-worse","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/germanys-economy-goes-from-bad-to-worse\/","title":{"rendered":"Germany\u2019s economy goes from bad to worse"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/134432\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>German Economy Minister Robert Habeck confirmed on Wednesday that the country&#8217;s gross domestic product is set to shrink for the second year in a row, and blamed the economy\u2019s deepening weakness on \u201cfailures of recent decades.\u201d The German government now expects the economy to shrink by 0.2 percent this year, having previously projected growth of 0.3 percent, Habeck told reporters.<\/p>\n<p>\u201cThe upturn is therefore being delayed once again, but now mainly not because of cyclical factors that have become worse or developed more slowly, but because structural factors are making it so much more difficult.\u201d While German voters have fixated on migration and the war in Ukraine in recent elections, the country\u2019s growing economic difficulties are likely to become a key issue ahead of a federal election scheduled less than a year from now.<\/p>\n<p>Habeck attributed Germany\u2019s economic weakness not to the policies of the three-party ruling coalition, but rather to long-running structural problems that have been \u201cembedded\u201d in the economy for decades \u2014 namely a lack of investment in infrastructure and a dearth of skilled labor. Germany\u2019s economy has been struggling for years, but news in September that carmaker Volkswagen was considering closing domestic plants for the first time ever drove home to many Germans the extent of the country\u2019s troubles. That development was followed by the decision of chipmaker Intel to suspend plans to build a \u20ac30 billion plant in Germany.<\/p>\n<p>But Berlin&#8217;s response has been constrained by coalition squabbling and by a constitutional debt brake that limits the federal deficit to 0.35 percent of GDP except in times of emergency, restricting the government\u2019s options for a meaningful economic stimulus.<\/p>\n<p>Members of the left-leaning parties in the coalition \u2014 the Social Democratic Party (SPD) and Habeck\u2019s Greens \u2014 favor loosening strict spending rules, while the fiscally conservative Free Democrats want those rules to be respected. In his comments Wednesday, Habeck appeared to acknowledge that infighting within his government and within the EU wasn\u2019t helping. \u201cThe political debate in Germany and Europe does not currently provide companies, and perhaps also consumers, with a clear compass as to where the journey is heading,\u201d he said. Habeck predicted that growth would resume next year, with the government projecting 1.1 percent growth in 2025 and 1.6 percent in 2026.<\/p>\n<p>That expansion would come with the help of the government&#8217;s \u201cgrowth initiative,\u201d he argued, which consists of more than 40 measures to boost the economy, including tax breaks for companies and cutting red tape. But the opposition doesn&#8217;t share that sanguine outlook, blaming the country\u2019s economic problems on government energy and regulation policies. \u201cThere is a threat of a downward spiral, that we will remain in this difficult economic situation over the coming years,\u201d said Carsten Linnemann, a leader of the conservative Christian Democratic Union (CDU), in parliament following Habeck\u2019s prognosis. The country, he added, needs an ambitious economic agenda that \u201ccreates freedom and puts performance back in the foreground.\u201d<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.politico.eu\/article\/germany-economy-bad-worse-recession-gdp-robert-habeck\/\">Politico<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/germanys-economy-goes-from-bad-to-worse\/\">Germany\u2019s economy goes from bad to worse<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[555,16442,16443],"class_list":["post-134432","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-germanys-economy","tag-worce"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/134432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=134432"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/134432\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=134432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=134432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=134432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}