BERLIN (Reuters) -Structural reforms are a requirement for the German economy to grow again, German Economy Minister Katherina Reiche said on Tuesday in the lower house of parliament.
German business associations have criticised the new government’s surge in public spending which targets defence and infrastructure, saying it will not be enough to revive the economy unless it comes with structural reforms to boost competitiveness.
Europe’s biggest economy contracted for the last two years, and the tariffs threats by the U.S. President Donald Trump could deal a major blow – possibly putting it on track for a third year of recession for the first time in post-war German history.
(Reporting by Maria MartinezEditing by Madeline Chambers)
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