00:00Yes, ladies and gentlemen, welcome to the presentation of the annual report on macroeconomic
00:13development. We have two statements. After two years of recession, this year the economic
00:26development in Germany is finally turning from negative to positive. However, growth will remain
00:33weak again this year compared to other European countries. It will improve significantly next year.
00:47We are making every effort to radically improve the economic situation.
00:51Growth in Germany has been too low for many years. We are not living up to our potential.
00:59The productivity of our economy is also not as good as it could be, or rather should be.
01:03Certainly not 1,000 euros.
01:18Please, there is still space on the left-hand side, but it is only done now,
01:37to use the package efficiently. However, as our analysis shows, there is still some room for
01:43improvement. Last year, we reported that our exports are benefiting less from an economic
01:51upturn in export markets. Our competitive position has deteriorated further due to U.S. tariffs and
02:00the appreciation of the euro. China is increasingly emerging as a competitor and, in turn, is benefiting
02:06from lower export prices. Accordingly, production is declining in almost all manufacturing sectors.
02:25has a very few more than 소�
02:30increased in of the industry. Until the last year, there is a major triumvirates of US1 billion
02:32– 3,000 euros of dollar. We are not getting close to the fuel factor, but it is not
02:37as difficult as to achieve! And therefore, the production is of the US, the US, the US, the US, the US,
02:41the US, the US, the US, and the US. And therefore, there are too many different parts of the US in the US.
02:46And therefore, there is still a bone inter baldness.
02:48It is also managed to develop upturned by the American US.
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