Germany's economy has been in decline and business confidence has eroded since a coalition of SPD socialists, green environmentalists and the liberal FDP took over the government in late 2021. [emphasis, links added]
Today Blackout News reported that the German Socialist Party/Green Party/Liberal Party government has once again lowered its economic outlook.
Recall that the economy will recover strongly in 2021, with GDP growth reaching 2.7%.
But at the end of the year, the Socialists, Greens and Liberals took over, promising a green revolution. Economic growth will slow almost immediately to 1.9% in 2022 and to 0.1% in 2023.
But there’s nothing to worry about, says German Economy Minister Robert Habeck [pictured above] (The Greens) insisted. The economic downturn is all Russia's fault, and Germany just needs to stay on the green path.
After all, these troubles have little to do with Germany's skyrocketing energy costs and Habeck's green policies. Things will definitely improve.
back to recession
Well, they don't. Today, things are getting worse by the minute. According to “Blackout News”:
Germany's economic situation has deteriorated sharply this year. Economy Minister Robert Habeck now predicts a fall in economic output rather than the expected growth. Initially forecast to be positive 0.3%, it is now calculated to be negative 0.2%. The new data reflect the dire situation of the German economy.
Habaek promises to grow from next year!
Now Habeck (see below), who has absolutely no education in finance or economics, wants us to forget about 2024 and promises growth of 1.1% in 2025 and 1.6% in 2026.
Habeck said in a recent interview. “This federal government’s growth initiatives are a necessary first step.”
The minister believes that if his measures are fully implemented, the German economy will be able to grow stronger in the coming years.
A grim future for the Greens
Habeck's promises haven't been fulfilled in three years, but he wants us to believe they will begin next year. For Habeck, his fellow Greens and socialists, the air is getting thinner.
With next year's federal election coming up, the polls are looking as grim as the economy.
Subject Economist
Economics Minister Robert Habeck studied German and philosophy and received a master's degree in literature and philosophy in 1996.
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