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The minister of Economy and Germany, Katherina Reiche, asked urgent economic reforms on Friday (22), after the federal statistics office released a stronger drop than expected in Commence (Gross Domestic Product) of the second trimester.
“The numbers illustrate the urgent need for action,” Reiche said in a statement, adding that “more bold and more reach structural reforms are essential for the German economy to become competitive.”
These reforms include more flexible working hours, a reduction in non -salary labor costs, less bureaucracy and lower energy prices, and decreases, rather than increasing, the tax burden on companies, she said.
