German Chancellor Merz named the reason for the loss of competitiveness of the German economy

German Chancellor Friedrich Merz named the reason why his country's economy has ceased to be competitive in many sectors. The head of the German government was quoted by RIA Novosti.

According to him, the whole point is that Germany has become too expensive to do business. Not everyone will like this, but, as the Chancellor clarified, the fact should be recognized: in terms of prices, Germany is not able to be on an equal footing with the regions with which it has to compete.

In the first half of May, it became known that the index of economic conditions in Germany had fallen. In April it fell from minus 62.9 to 73.7 points, and in May it dropped to minus 77.8. Experts also drew attention to weak industrial production, rising energy prices and inflation above two percent.