German chancellor voices optimism, says economy recovering

Germany's economy has emerged from a recession that lasted several years and is now showing signs of recovery, says Chancellor Friedrich Merz.

Speaking at a press conference following a two-day closed-door government meeting at Neuhardenberg Castle in Brandenburg, he noted that the business climate index rose unexpectedly sharply in August, for the fourth consecutive month, Caliber.Az reports, citing Russian media.

“The economy has posted solid growth for the third quarter in a row. Forecasts for 2027 are being revised upward. Three years of recession are behind us, and we are now growing again despite the war in the Persian Gulf and in Ukraine, despite the trade conflicts we see everywhere, which escalated again between the United States and Canada last weekend,” Merz stressed.

In his words, the cabinet meeting also focused on tasks for the coming weeks and months.

“We must move beyond this atmosphere of discontent and gloom. Together, we must overcome this widespread dissatisfaction that has prevailed in our country for a long time,” Merz added.

According to him, innovation and competitiveness were the main topics of the meeting.

He cited the adoption of artificial intelligence in industry, skilled trades, small and medium-sized businesses, the defence sector and medicine as examples.

The head of government claimed Germany has “enormous opportunities” in these areas.

Germany has been experiencing a prolonged economic crisis in recent years.

By Bakhtiyar Abbasov