Economic experts are calling for a clear change of course and in-depth structural reforms.

Economic experts are calling for a clear change of course and in-depth structural reforms.

According to a report from www.hl-live.de, President Hagen Goldbeck called for a real change of course with deep structural reforms in economic policy at the New Year's reception of the Chamber of Commerce and Industry (IHK). He emphasized the need for a clear commitment to the economy, personal responsibility and reliable framework conditions in order to get back on the growth path. After four years of crisis in a row and uncertainties at home and abroad, the economy needs significantly better and reliable conditions in order to get back on the growth path. Politicians must send a strong signal of optimism in order to regain the lost trust of companies.

Business demands range from tax reforms to accelerating planning processes to strengthening the infrastructure and location structure. Professor Dr. Stefan Kooths, director of the Economics and Growth Research Center at the Institute for the World Economy in Kiel, said that after the economic slowdown last year, moderate expansion is foreseeable for 2024. However, demographic change and energy transformation are putting a strain on production possibilities.

Prime Minister Daniel Günther emphasized that there are many reasons for optimism and confidence, including the Swedish battery cell manufacturer Northvolt's decision to locate in Heide. This settlement project offers great opportunities for the region and the country. Politicians must provide companies with assistance, particularly in accelerating planning and approval processes.

The IHK's demands continued in the direction of cross-border cooperation and a future, larger-scale way of thinking with regard to transport infrastructure and the energy transition.

The concerns expressed by the IHK and the expert show that the economy in Germany is in trouble and that there is an urgent need for action with regard to structural reforms and reliable framework conditions. In addition, international competitiveness is also highlighted through investments in renewable energies and innovations.

Overall, there is a need for a changed mindset on the part of the state in order to focus more on personal responsibility and trust. Consistent deregulation at all levels as well as targeted investments in infrastructure, networks and innovations are essential to address the shortage of workers and skilled workers and to strengthen competitiveness.