Structural Change
German Leader Lists EUR 100bn State Investment Priorities
German Chancellor Olaf Scholz emphasized artificial intelligence, technology, transport infrastructure, green mobility and the transition to clean energy.
Jun 03, 2024
Scholz’s remarks came at the Eastern German Economic Forum in the spa town of Bad Saarow in Germany’s east. The German government will invest some EUR 100 billion this year in Germany’s future, he told attendees.
“We’re not taking a scattershot approach,” said Scholz. “On the contrary, we’re targeting investments in those areas that are the basis of economic growth: fiber-optic cables, modernized railways, better roads and new bridges, a comprehensive national network of electric vehicle charging points, the ramping up of hydrogen, the transformation of industrial processes, energy-efficient building renovations and microelectronics.”
Scholz added that “the exponentially expanding capacities of artificial intelligence” would “notably increase the pace of change in the years to come.” He also said that Germany had emerged from the energy crisis of the past year and was now on track to meet its goals of 80 percent renewably generated electricity by 2030. “We’ve brought together almost everything we need for a secure and affordable future energy supply in Germany.”
The annual Eastern German Economic Forum is hosted by the Germany – Land of Ideas initiative. Germany Trade & Invest is one of its major partners. The conference runs until June 4.
