Germany’s economy will contract by 0.5% in 2024 because of uncertainty caused by a budget crisis, the German economic institute IW said on Wednesday.
A constitutional court ruling last month upset the government’s financing plans, leading to weeks of negotiations over how the 2024 budget should look and causing much uncertainty, said researchers at the economic institute. “The German government has played a decisive role in this crisis,” IW Director Michael Huether said. “The coalition must now demonstrate its ability to act in terms of fiscal policy.”
Source: Devdiscourse
