Headlines
German economy minister says Q2 slump shows 'urgent need for action'
Published by Global Banking & Finance Review®
Posted on August 22, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 22, 2025
1 min readLast updated: January 22, 2026
Germany's Economy Minister calls for urgent reforms after a Q2 GDP slump, emphasizing structural changes to enhance competitiveness.
BERLIN (Reuters) -German Economy Minister Katherina Reiche called urgently for economic reforms on Friday after the federal statistics office reported a stronger-than-expected slump in gross domestic product in the second quarter.
"The figures illustrate the urgent need for action," Reiche said in a statement, adding that "further-reaching and bold structural reforms are essential if the German economy is to become competitive".
These reforms include more flexible working hours, a reduction in non-wage labour costs, less red tape and lower energy prices, as well as lessening rather than increasing the tax burden on companies, she said.
(Writing by Rachel MoreEditing by Ludwig Burger)
German Economy Minister Katherina Reiche called for urgent economic reforms following a stronger-than-expected slump in gross domestic product.
The proposed reforms include more flexible working hours, a reduction in non-wage labour costs, less red tape, lower energy prices, and a decreased tax burden on companies.
Reiche stated that the figures illustrate an urgent need for action and that bold structural reforms are essential for the German economy to remain competitive.
Explore more articles in the Headlines category
