Deutsche Bundesbank President Joachim Nagel underlined on Friday in a speech that it is clear the German economy is going through a "pronounced [period of] weakness," with gross domestic product expected to increase only 0.2% in 2025.
He stressed that the next federal government needs to implement "structural reforms that will increase potential growth again." Nagel explained that businesses will invest and expand only under the right conditions and if they are confident in the future.
"Good economic policy can promote this confidence with reliable, plannable actions and thus improve the economic conditions," the Bundesbank head asserted.
