Germany needs to spend $734b to catch up to peers


Germany requires $US500 billion ($734 billion) in public investments to modernise its infrastructure after doing too little for decades, the country’s top union and industry leaders said on Monday.

Europe’s largest economy, which narrowly escaped recession in the third quarter, now requires massive funds to catch up, become more competitive and boost its growth potential, said the study commissioned by the union federation, DGB, and the industry federation, BDI.

Germany narrowly escaped falling into recession in the third quarter. Credit:Getty Images

The country, famed for autobahns without speed limits and high-tech engineering, ranked fifth-to-last in the European Union in terms of providing digital public services, based on data from the European Commission.

Germany has one of the lowest 4G availability scores in Europe, with millions of users in mostly rural areas unable to connect to 4G networks up to half of the time, according to a June report by Opensignal, a mobile analytics company.



Business

Related posts

Make a comment