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Germany’s BDA Head Kramer: Brexit won't have grave impact on German economy

Reuters reports the latest comments by the head of Germany’s BDA employers’ organization, Ingo Kramer, on the impact of Brexit on the German economy, with the key highlights found below.

“Of course Brexit will affect economic developments in Germany, especially some individual companies, but it will not have a serious impact on the overall economy,”

Kramer cited estimates of German economic growth of around 1.5 percent in 2019, but said there were signs Germany’s positive economic momentum of recent years was ebbing.

Underscored the importance of migration for the German economy, and said Germany could face economic declines like those seen in the 1990s if it closed its doors to migrants.

On the migration issue: “Mrs. Merkel was right with her statement. Yes, we will manage the integration.  I’m surprised myself that it’s happening so quickly. But employers are doing it. Especially we medium-sized businesses are looking for workers.”

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