Germany is at last tackling its long-standing economic weaknesses

Germany is tackling its economic weaknesses, including dependence on cheap energy, slow decarbonisation and digitisation, and a shortage of skilled workers. Olaf Scholz promises a transformation to a climate-neutral economy, but deep structural change is needed.

March 15, 2023 . 10:37 PM

1 min read

Germany is tackling its economic weaknesses, including dependence on cheap Russian energy and slow decarbonisation and digitisation.
The economy was more resilient than expected, and Germany is likely to dodge a recession this year.
Germany needs more green energy to become climate-neutral by 2045 and must embrace the digital economy.
The country faces a shortage of skilled workers due to demographic problems and the acute shortage of skilled workers that affects especially the midsized companies of the Mittelstand.
Retraining the workforce is a central element of businesses' strategies to address this shortage of skilled workers.