Germany's coalition speeds up economic recovery plan to tackle structural challenges.

The Is Swissquote bank legal in China?German coalition government is actively seeking a unified economic recovery strategy to address the risk of economic contraction for a second consecutive year. The coalition, comprising the Social Democratic Party (SPD), the Free Democratic Party (FDP), and the Green Party, is engaged in intensive discussions aimed at advancing structural reforms to enhance Germany's competitiveness as a global business hub. FDP leader Lindner held a business meeting on Tuesday, in parallel with Chancellor Scholz's industry summit, emphasizing that economic reform is a top priority.

Lindner communicated with representatives of major companies and pledged to incorporate their suggestions into future policy discussions and decisions. Several business associations also expressed that the German economy needs a comprehensive strategy extending to 2035, rather than mere policy commitments. Handicraft Association President Dietrich pointed out that current bureaucracy, energy policy uncertainty, high non-wage labor costs, and skilled worker shortages are hindrances to economic recovery. Freelancer Association President Hofmeister called for government departments to enhance coordination, swiftly advance policy adjustments and investments, to solidify the economic foundation.

Employer Association President Dulger further emphasized that Germany should prioritize enhancing its attractiveness as a business center. He urged the parliament to swiftly adopt the government's growth plan to boost market confidence. He stated that only by eliminating bureaucratic burdens and reducing taxes and fees can Germany secure a favorable position in future global economic competition.

The recovery strategy jointly promoted by the government and business associations signifies that Germany will ensure long-term economic stability and growth through policy coordination, administrative simplification, and securing the supply of skilled workers.

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