Chancellor Scholz responded to criticism of the German economy from the “Anglo-Saxons”

German Chancellor Olaf Scholz said that Germany will not endlessly increase its debts, as some experts abroad are calling for. He noted that problems cannot be solved with the help of loans. Olaf Scholz made this statement in an interview with Die Welt in response to an article in the British newspaper The Economist, which raised the question of whether Germany is the new “sick man of Europe.” The Chancellor said that the government’s policies cannot be the reason for the slowdown in the national economy.

Prolitik also noted that The Economist criticizes Berlin for its reluctance to increase public debt by 100-200 billion euros per year. However, as the Chancellor emphasized, an endless increase in debt does not solve problems, but only creates new ones.

The chancellor attributed Germany’s poor economic performance to weakening export markets, especially China, as well as rising energy prices. High inflation and the impact of supply chain disruptions during the COVID-19 pandemic also played a role. However,

Olaf Scholz emphasized that Germany is actively developing semiconductor production, building battery factories and investing in the field of electric vehicles.

The authors of the article to which Scholz responded pointed out that Germany had long relied on leadership in old industries without investing in new industries. For example, the share of investment in information technology in Germany is half that in France and the UK. The article also argued that Berlin’s main mistake was its over-reliance on balanced budget policies, which hampered infrastructure development and increased investment.