Bundesbank’s Nagel: steps needed to stop German economy from getting worse

WASHINGTON (Reuters) – Germany is not facing a deep economic contraction, but steps need to be taken to prevent things from getting worse, said Bundesbank President Joachim Nagel in Washington on Friday.

Nagel said that the most important thing at the moment was that the German government work on the implementation of an already agreed growth package of measures for the economy.

“This would make an important contribution to strengthening the forces of growth. But anything that could go beyond that in 2025 would certainly be welcome from the central bank point of view,” said Nagel on the sidelines of the annual IMF and World Bank meetings.