Chancellor Scholz sees Germany facing a new economic miracle

Chancellor Olaf Scholz

“Because of the high investments in climate protection, Germany will be able to achieve growth rates for some time, as last happened in the 1950s and 1960s.”

(Photo: Imago Images)

Berlin Olaf Scholz (SPD) has been annoyed for a long time. The chancellor thinks the mood in the country is far too bad. The location is better than often claimed. But Scholz is not only more optimistic about the future than many experts. The Chancellor even believes that Germany is on the verge of a new “economic miracle”.

“Because of the high investments in climate protection, Germany will be able to achieve growth rates for some time, as last happened in the 1950s and 1960s,” said the SPD politician to the newspapers of the Neue Berliner Redaktionsgesellschaft.

In the 1950s and early 1960s, annual growth rates at full employment were around eight percent. In the new millennium, on the other hand, the average annual growth rate is just 1.2 percent.

In 2023, the German economy is likely to tread water. Is an increase in economic growth really realistic? Or is that wishful thinking?

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