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New Bavarian Minister of Economic Affairs Mr. Pschierer gives his first press conference – State of Bavarian economy has never been better

28.03.2018



GDP growth from 1997 to 2007: +50% for Bavaria (in blue), ahead of all other German Länders | (c) StMWi

On the occasion of his first press conference as Bavarian Minister of Economic Affairs, Mr. Pschierer presented a positive portrait of the economic situation in the Land. "In 2017, the Bavarian GDP grew by 2.8%. Our region is once again a leader in Germany, where the average growth on federal level was 2.2%", said Mr. Pschierer.

The Minsiter highlights the positive long-term developments:

"Economic growth has undergone a 50% increase over the last 20 years. No other German region has been quite as dynamic over the two last decades."

Regarding the 2018 forecast, with the current trends in mind, Mr. Pschierer expects another growth year -- 2.5% to 3% for Bavaria.

The Minister explains further: "What is important to me, is that this growth is profitable for our citizens. The current job market data shows we are successful: with 5.46 million employees fully subjected to social security contributions, on average, in 2017, Bavaria achieved its highest-ever employment rate -- with full-employment in 52 of our 96 regional districts." For the Minister, this momentum needs to extend evenly to all districts: "There is only a 1% difference between our administrative regions. My objective is to achieve full-employment in all of Bavaria's administrative regions by 2020."

According to the Minister Pschierer, coming challenges Bavaria faces are globalization, digitalization, demographic changes, and urbanization: "We need to find satisfying answers to these."

As central focus points of his mandate, the Minister names structural and settlement policies, filling the workforce gaps, supporting entrepreneurs and tourism. "The workforce gaps is a huge issue that I will tackle with the help of business representatives. Within a new frameworkd for the settlement policy, I will reinforce our government agency 'Invest in Bavaria' and work especially towards rural region settlement. I will also enhance the existing framework for our entrepreneurs by cutting red-tape and simplifying financial support possibilities. In order to highlight the particular importance tourism has for our local economy, I will create a special, dedicated Tourism department within my Ministry, as well as a Bavarian Center of Competence in Tourism."

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