The German Industrial and Commercial Chamber calls on a new government for rapid steps in economic policy to prevent the stagnation of the economy.
The German Industrial and Commercial Chamber (DIHK) called on the incoming government to quickly change the direction of economic policy. TASR informs this based on the DPA report.
“For companies in Germany, it is crucial for the new government coalition to be able to act quickly,” said Dihk chief Peter Adrian for Sunday’s edition of Rheinische Post. “As a business community, we now expect determination, unity and especially speed,” he said.
Plans for reforms
Adrian sees a promise for a new economic course of the country in a coalition agreement among Christian democrats of the future office of Friedrich Merza, the Christian Social Union and the Social Democrats. He pointed out the coalition plans to reduce bureaucracy, reform of tax policy and accelerate planning and approval processes.
Adrian suggested that the future government start with simpler tasks, such as reducing electricity tax to European minimum level and improving the conditions for depreciation of value to build trust.
Threat of recession
According to him, immediate measures are needed, as almost six months have passed since the previous government coalition has disintegrated, and Germany is in danger of stagnation of the economy and recession, which would mean the third year of economic decline in a row.
Adrian stressed that the causes of Germany’s economic problems are largely domestic, although the currently complex situation is impaired by global uncertainty about dusters.
“All the more it is necessary for the new federal government to start actually acting. We must finally make Germany a place to do business for the future,” he concluded.
