Germany faces economic challenges with stagnant growth and skilled worker shortages

Germany's economy has not grown in five years, facing challenges from high energy prices, competition from China, and a shortage of skilled workers. The situation worsened after Russia cut off gas supplies, leading to soaring energy costs. Germany's reliance on cheap Russian gas and exports to China has faltered. The country struggles with high electricity prices, averaging 20.3 euro cents per kilowatt-hour, compared to 8.4 cents in China and the US. Renewable energy sources have not scaled up quickly enough. Businesses report a significant shortage of qualified workers, with 43% unable to fill positions. An ageing population and bureaucratic hurdles complicate hiring, despite recent laws aimed at easing immigration for skilled workers.