Germany is calling for more immigrants to fix its shrinking economy.
The German government has slashed its economic forecast for 2023, warning that output is expected to shrink by 0.4%. This would make Germany the worst-performing major economy this year, according to the IMF.
One of the biggest challenges facing the German economy is a shortage of skilled workers. The country has an aging workforce and a low birth rate, which means that there are fewer people entering the workforce than retiring.
The German government has called for more immigrants to help fill the gap, but this has been met with some resistance from the public. Robert Habeck, Germany’s economy minister and vice-chancellor, is urging the nation to consider increasing skilled immigrants to bolster the workforce. It’s not merely about skilled workers; the workforce deficit is apparent in various sectors.
Read more here: https://www.ft.com/content/de913edd-71d1-4a36-b897-091125596952
h/t TonyLiberty