But despite up to 1 trillion euros planned for spending in the coming years, many experts fear that red tape and a shortage of skilled workers could prevent this money from having the desired effect.
The money will be allocated to many important areas. The German military (Bundeswehr) needs to rearm rapidly, opening up a golden opportunity for arms corporations such as Rheinmetall and Airbus, but also raising the issue of price when they can almost decide the price at will.
Stuttgart train station is one of many projects that should have been completed long ago. Photo: GI
Meanwhile, the Deutsche Bahn rail system is planning to renew more than 4,000 km of track, at a total cost of up to 290 billion euros by 2034. Maintaining the main lines alone will cost another 140 billion euros.
But money alone does not necessarily solve the problem. Notorious projects such as Berlin Airport and Stuttgart Station 21 are examples of lengthy administrative procedures, planning errors and cost overruns.
According to a study by the ifo Institute, Germany loses up to 146 billion euros a year due to heavy bureaucracy. Without cutting red tape, the implementation of major projects could continue to be delayed.
Another challenge is the shortage of workers. To meet labor needs in related sectors, Germany will need about 288,000 immigrant workers each year until 2040. But with an aging population and a shrinking domestic workforce, the question is who will actually implement these ambitious plans?
In addition, this huge debt will bring financial pressure in the future. Currently, Germany owes 1.7 trillion euros and pays around 34 billion euros in interest each year. The Federal Audit Office has warned that from 2035, the country could have to spend an additional 37 billion euros a year on interest alone, raising concerns about whether this is a dangerous financial gamble.
Ngoc Anh (according to DW, DPA)
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