It is really good news for Danish companies that Germany is now ignoring the debt brake and investing up to 500 billion euros in, among other things, climate and infrastructure. This is according to Rikke Wetendorff Nørgaard, who is the head of European policy at the Confederation of Danish Industry.
- For example, when it comes to climate solutions, Germany is already our largest market. So the fact that an extra 100 billion euros are now being allocated for this purpose will benefit Danish companies and the Danish economy. These are such large amounts of billions and areas where Danish companies are well positioned that I think the pie is big enough that it can also benefit Danish companies, she says.
Rikke Wetendorff Nørgaard also predicts that the Danish investment plan will spread like rings in the water to the rest of the Danish economy.
- We have around 140,000 jobs tied to German exports. So what is good for the German economy is also good for the Danish economy. Therefore, it benefits not only the companies that receive new orders in Germany on this basis, but also those that are generally dependent on demand in Germany growing, she says.
Should boost the economy
The political agreement to boost the wheels of the German economy is a welcome injection of salt water to a German economy that is having difficulty finding a foothold after the period of sharply rising energy prices and high inflation.
- It has not been a good period, and this has also been felt in Denmark in Danish workplaces and in exports to Germany. There have been several companies that have been forced to lay off workers and reduce their production in line with the declining growth in Germany. That is now changing, we hope, she says.
Germany is Denmark's second largest export market after the USA and is naturally also our largest trading partner in Europe.
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