Jörg Kukies, who assumed the role of Germany's finance minister in November, is calling for urgent economic reforms. Taking over from Christian Lindner, who was dismissed by Chancellor Olaf Scholz, Kukies has highlighted the pressing need to address structural weaknesses in Germany's economy. Lindner's departure followed prolonged disagreements over the country's economic policies and budget, culminating in a reshuffle within the German government.
In a recent statement at the World Economic Forum in Davos, Kukies communicated these concerns in an interview with CNBC's Karen Tso and Steve Sedgwick. He noted that the International Monetary Fund (IMF) had further downgraded Germany's growth forecasts. This economic outlook played a significant role in prompting an early national election, now scheduled for February 23.
The former ruling coalition, comprising the Social Democratic Party, the Free Democratic Party, and the Green Party, experienced turbulence leading to Lindner's exit. Lindner was a key figure in the Free Democratic Party, whereas Scholz is affiliated with the Social Democratic Party. Kukies emphasized that the upcoming election would primarily focus on economic issues, underscoring the necessity for Germany to embark on a path of economic growth.
"The structural weaknesses of our economy absolutely have to be addressed."
— Jörg Kukies
Kukies stressed the importance of initiating a period of economic expansion for Germany. He pointed out that addressing these structural issues is critical for strengthening the nation's financial standing and ensuring long-term stability.
"It's really important that we embark on a path of economic growth."
— Jörg Kukies
The finance minister's remarks underscore a pivotal moment for Germany as it navigates a complex political and economic landscape. The early election reflects the urgency of these challenges and the need for decisive action.