The European Commission has said that while Germany has made slight progress when it comes to the thorny issue of its lack of investment it should still make further increases. Meanwhile there is a trend towards increased private and public investments, the EU executive authority announced on Wednesday in its analysis of the economic situation of the EU states. At the same time, the European Commission criticized insufficient efforts in several areas. And it warned that the economic outlook could soon be negatively affected due to the spread of the new coronavirus.
The Brussels-based authority reiterated its criticism of Germany’s excessively high current account surplus. For years, Germany has been exporting more goods than it purchases abroad, a fact that has repeatedly provoked criticism from its trading partners. In the view of the European Commission, this is endangering economic stability in Europe.
In the current report, the authority calls for greater investment in innovation, education, sustainable transport and affordable housing. It said that, in view of the robust labor market and favorable financing conditions, consumption and investment remained quite low. Wages and disposable income have increased, but much of that growth is being saved and not spent, it added.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
