Brandenburg's economics minister warns: companies could disappear from the map

Brandenburg's economics minister warns: companies could disappear from the map

According to a report by www.stern.de, The economy in Brandenburg developed above average in 2023. The Economics Minister is also optimistic for the new year, although there are likely to be setbacks. Brandenburg's Economics Minister Jörg Steinbach expects overall positive economic development in Brandenburg in 2024 - but also sees problems, especially in the automotive supplier sector. The SPD politician told the German Press Agency in Potsdam that he assumes that the economy in Brandenburg will continue to develop positively in 2024, contrary to the general national trend. Nevertheless, small and medium-sized companies in the automotive supply industry in particular, which, for example, supply parts for combustion cars and have not managed the transition to electromobility, could run into problems.

However, the expected positive development in 2023 could weaken due to problems in the automotive supply industry and the closure of tire production at Goodyear. This could lead to a decline in economic performance and layoffs in these sectors. In addition, the growing disadvantages of the German rubber industry compared to locations in Southeast Asia could lead to further challenges.

Overall, however, it can be expected that the planned expansion of companies such as BASF and Tesla as well as potential industrial settlements could support the economy in Brandenburg. Nevertheless, problems in the automotive supply industry and the rubber industry may continue to weigh on the state's economy.