Germany Faces Economic Downturn as Recession Deepens

Economy Minister Robert Habeck announces a revised GDP forecast, highlighting structural challenges and global pressures.

Germany's GDP is expected to contract by 0.2% in 2024, marking the second consecutive year of recession.
Structural issues, such as insufficient infrastructure investment and a significant skills shortage, are exacerbating the economic decline.
Global economic tensions, particularly between the US and China, are impacting Germany's export-driven industries.
Businesses in Germany are becoming takeover targets as they struggle with declining sales and revenues.
The government faces criticism for inadequate economic support, with calls for tax reforms and reduced bureaucracy to boost competitiveness.