Berlin: The Federation of German Industries (BDI) has called on the German government to craft effective and prompt measures to address the economic contraction in the country. Speaking to the German Press Agency (dpa), BDI CEO Tanja Gonner emphasized the need for radical structural reforms to be implemented immediately, asserting that it is time to change the approach toward industry in Germany.

According to Qatar News Agency, German Chancellor Olaf Scholz is tasked with developing a joint strategy for the government that supports further growth and enhances competitive capacity. Gonner called for additional measures during this legislative period as part of the government-led growth initiative.

She highlighted that such measures would alleviate burdens on partners regarding energy costs and increase overall capacity. This includes co-financing energy network fees from the federal budget, redesigning the electricity market to ensure supply security, and providing incentives for investments, along with sign
ificantly accelerating the planning and approval processes for industrial facilities.

There is currently a debate within the German ruling coalition regarding the best path forward in economic and financial policy.