BERLIN / LONDON (IT BOLTWISE) – Amid an economic downturn in Germany, Federal Economics Minister Katherina Reiche is calling for a realignment of economic policy. Its Agenda 2030 aims to strengthen the state’s ability to act through deregulation and reforms and to make Germany more competitive in the global crisis.
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At a time of economic uncertainty, Federal Economics Minister Katherina Reiche has presented a comprehensive agenda to stimulate the German economy. Her vision, which she presented in a keynote speech in Berlin, aims to fundamentally reform economic policy. Reiche emphasizes the need to focus the state on its core tasks such as security, infrastructure and education in order to strengthen the ability to act.
A central point of her speech was the call for a rigorous review of subsidies and support programs. Reiche argues that reducing disincentives, even if it could entail painful measures, is necessary to increase economic dynamism. These measures are intended to help Germany not to fall behind in a time of profound geopolitical and technological upheaval.
Reiche, who has been in office since May, presented her proposals at a symposium on the social market economy. Symbolically, a bust of Ludwig Erhard was returned, which had previously been removed in protest against the politics of its predecessor. Erhard, known as the father of the social market economy, represents the economic miracle of the post-war period and serves as an inspiration for Reiche’s reform agenda.
The minister sees deregulation and the creation of more freedom for companies as a key to strengthening Germany as a business location. The proposed reforms include a longer working life and a review of continued payment of wages in the event of illness. These measures are intended to provide new impetus for the German economy and increase its competitiveness on a global level.
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