German businesses slam austerity budget, slash investments as subsidies dry up
-
German businesses wanted funding notices for projects, but instead got austerity measures like less money for a climate fund.
-
Companies dependent on public support are worried about not getting subsidies as promised.
-
Business sentiment is plummeting, with most German bosses saying the government is doing a poor job.
-
Investment plans are being slashed, with only 24% of mid-sized companies planning expansions.
-
The austerity budget will burden the economy and make recovery in 2024 more difficult, though the government disputes the gloom.