DGB boss Yasmin Fahimi warns of an economic downturn - financial experts express skepticism about the prospects for 2024

DGB boss Yasmin Fahimi warns of an economic downturn - financial experts express skepticism about the prospects for 2024

As DGB boss Yasmin Fahimi warned, German industry will also face major challenges at the turn of 2024. In particular, the energy-intensive industries, such as the chemical industry, aluminum and steel production, continue to be severely affected by the economic situation and rising energy prices. She also criticized the discontinuation of the state cap on gas and electricity prices, which has a negative impact on companies and makes Germany unattractive as a location. Your appeal is therefore clearly in the direction of a reform of the debt brake and a special fund for investments in social infrastructure and the economy.

According to a report by www.esslinger-zeitung.de,

The article points to several negative impacts on the German market and the financial industry. Rising energy prices and the uncertain economic situation could lead to a decline in productivity and exports in the affected industries. This, in turn, could jeopardize job security, leading to an increase in unemployment.

It is also mentioned that Germany is becoming increasingly unattractive for companies, which could potentially lead to a decline in foreign investment and a loss of skilled workers. This in turn would have further negative effects on the economy and the financial sector.

Yasmin Fahimi's call for debt brake reform and the creation of a special fund for infrastructure investment could potentially have positive effects on the economy and the market. Investments in social infrastructure and the transformation towards a climate-neutral economy could boost economic growth and improve job security. However, it remains to be seen whether and to what extent these demands will be implemented.