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Germany Economic Snapshot

Economic Forecast (May 2021)

Economic growth is projected to reach 3.3% in 2021 and pick up further to 4.4% in 2022. Virus outbreaks and associated containment measures have delayed the recovery in services, while the export-focused manufacturing industry is growing strongly despite some supply-chain disruptions. Vaccination will enable a progressive reopening of the domestic economy.

Going for Growth: Economic Policy Reforms (April 2021)

Going for Growth 2021 - Germany

The pandemic is likely to accelerate digitalisation with new business models and increases in demand for teleworking, telehealth services and remote learning. The energy transition requires changes in behaviour, consumption and production. In order to face these challenges while supporting the recovery, Germany needs to boost investment in infrastructure and knowledge-based capital, revive business dynamics and address skills bottlenecks.

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2021 Structural Reform Priorities

  • Infrastructure: Boost infrastructure investment
  • Competition and regulation: Promote reallocation by removing barriers to firm growth and incentivising investment in expanding industries
  • Education and skills: Strengthen skills to cope with technological change
  • Labour market: Make it easier for parents to choose flexible working hours
  • Tax system: Reduce tax wedges on labour income and shift taxation towards less distortive taxes

 

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Economic Survey of Germany (December 2020)

Executive Summary

Presentation

Präsentation