German Chancellor Friedrich Merz stated that the economic situation in Germany remains alarming and that businesses are in a rather difficult position, APA reports.
"The economic situation in Germany remains worrying. This applies to large industrial sectors, but it also affects a significant portion of small and medium-sized enterprises and artisans. Companies in Germany are in a very difficult situation," Merz said at a press conference following a meeting of the CSU state group in the Bundestag in Seeon.
This, he said, is also reflected in the "rather dramatic performance" of the German labor market. "The German labor market is stagnating. It's mired in long-term unemployment, and we must break out of this," the German Chancellor stated. He noted that "it's necessary to improve Germany's price competitiveness as a business location." "We must restore competitiveness. We must ensure a bright future for companies in Germany," he said.
Among the main problems, the German prime minister cited high energy costs, excessive bureaucracy, expensive labor, and high taxes. "We need to discuss this with the Social Democrats. We won't be able to implement everything immediately. Budgetary resources are very limited. However, these are challenges that we must address together in a coalition, and we must make the first important decisions on them this year," the German Chancellor concluded.
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