DIHK President calls for a turnaround” in economic policy

DIHK President calls for a turnaround” in economic policy

Peter Adrian, President of the German Chamber of Commerce and Industry (DIHK), has called for a “turnaround in economic policy” in view of the current economic situation. He emphasized the importance of the coming weeks until Easter for the further development of the German economy and emphasized that decisions regarding burdens and relief will have a direct impact on companies' investment plans. Adrian called on political leaders to take concrete steps to realign economic policy, as new reforms are necessary.

The DIHK President underlined the importance of a positive signal for economic growth by 2030 and cited the Growth Opportunities Act as an initial encouraging sign. This law provides relief for companies amounting to seven billion euros per year and is currently in the Federal Council's mediation process. In addition to these reliefs, Adrian called for the removal of blockages in planning and approval processes as well as the reduction of bureaucracy.

Companies also expressed criticism of current economic policy in a study by the German Economic Institute (IW). The study found that policy direction poses a risk to almost two-thirds of companies in their investment decisions. The high burden of bureaucracy, numerous regulations, high corporate taxes and deficiencies in the expansion of digital and transport infrastructure systems were cited as reasons for dissatisfaction. According to the study, the main reasons for reluctance to invest were increased labor costs, a shortage of skilled workers and a lack of availability of workers.