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Germany gears up for election as its economy slumps

Feb 20, 2025, 6:56am EST
Europe
Social Democratic Party (SPD) Chancellor Olaf Scholz, German Economy and Climate Minister Robert Habeck, conservative candidate for chancellor and Christian Democratic Union (CDU) party leader Friedrich Merz and Alternative for Germany (AfD) party co-leader Alice Weidel attend the RTL and NTV TV programme ‘Quadrell’ in Berlin, Germany.
Kay Nietfeld/Pool via REUTERS
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Germany goes to the polls this weekend against a backdrop of economic malaise.

The country has faced dual economic and political crises in recent months, when current Chancellor Olaf Scholz’ coalition collapsed in November after firing his finance minister. Scholz’s party the Social Democrats are currently polling third.

The country has lost almost 250,000 manufacturing jobs since the start of the pandemic: The main opposition leader said Germany risks deindustrialization. Reliance on Russian gas and the closure of nuclear plants has created an energy crisis.

Even the country’s famously punctual trains are collapsing: Scholz warned against privatization of the rail network, saying it could “end as badly as England,” but The Times of London noted that German trains are already less reliable than British ones and are often banned from Switzerland because they mess up timetables.

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The rising economic anxiety has boosted the anti-immigrant Alternative for Germany party, now second in the polls.

A chart showing Germany’s share of global GDP.
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