Rapid population ageing will exacerbate labour shortages
Workers displaced by the green transition will need support
Energy prices remain high
Rapid population ageing will exacerbate labour shortages and increase fiscal pressure
Structural reforms are needed to preserve growth and reduce fiscal pressures
Germany enjoyed strong export-led growth and fiscal surpluses over the past decade
A strong post-pandemic recovery was mitigated by supply chain bottlenecks and labour shortages
Inflation and uncertainty are high and nominal wages have started to pick up
Business dynamism has markedly slowed down
Not all industries suffer equally from high energy prices