Getting more women into the workforce, attracting foreign professionals and drafting a strategy to help the economy go digital should be German government’s top priorities, its economic advisors said on Wednesday.
Such policies would help the German economy, which is suffering from a skilled labour shortage and fend off headwinds from an ageing population.
Again the policies would douse the possibility of Britain leaving the European Union without a deal, trade tensions and a new sovereign debt crisis in the euro zone, they said.
“The risks for economic development have increased because of the trade conflict, Brexit, political uncertainties in the euro zone and the planned exit from expansionary monetary policy,” said Isabel Schnabel.
She is advisory board member.
“The key challenges are the rapidly progressing demographic change and the structural change caused by digitalisation,”she added.