The German government says Europe’s largest economy is in “troubled waters.” It's slashing its growth forecast for this year as it struggles with a lack of skilled labor, excessive bureaucracy, high interest rates and lagging investment in new projects. Meanwhile, a relatively modest set of tax breaks for business remains blocked in the legislature. The growth forecast was lowered to 0.2% from the previous forecast of 1.3%. That would follow a shrinking of the economy by 0.3% for all of last year. Germany is recovering slowly from the shock of Russia cutting off most natural gas supplies after its invasion of Ukraine.
FRANKFURT, GERMANY (AP) The German government said Europe’s largest economy was in “troubled waters” and slashed its growth forecast for this year as it struggles with a lack of skilled labour, excessive bureaucracy, high interest rates and lagging investment in new projects while a relatively modest set of tax breaks for business remains […]