Germany is not in recession. Chancellor Olaf Scholz’s private secretary, Wolfgang Schmidt, made this statement on Tuesday. His words guide the way Reuters.
“We are not in a recession. We are not seeing anything that usually accompanies a recession, such as unemployment. The labor market is quite stable and real wages are rising again. We will see an increase this year,” a government official said.
German Economy stoped due to crises. By the end of 2023, the country’s GDP decreased by 0.3%. A year ago, this figure showed an increase of 1.9%.
at the end of december reportedIt is stated that Germany is at risk of losing its status as the world’s third largest economy by 2026.
Robert Habeck, formerly German Vice-Chancellor, Minister of Economy and Chairman of the League 90/Green Party statedHe said that the German economy was not receiving sufficient funds due to aid to Ukraine.