Bloomberg pointed to the low chances of an "economic miracle" under Merz

Germany is unlikely to recover strongly economically under the new chancellor, who will be the leader of the Christian Democratic Union (CDU/CSU) Friedrich Merz according to the results of parliamentary elections. This was reported by Bloomberg news agency on February 24.

"The victory of <...> Merz in the elections <...> raised hopes that this 69-year-old former corporate lawyer will "wave a magic wand" and put an end to years of economic stagnation", - stated in the material.

The agency called the main brake for the development of the economy of Germany unfavorable demographic situation in the country, in particular because of the rapidly aging population. The generation of the so-called "baby boomers" retired, resulting in a shortage of skilled labor.

As the agency pointed out, German voters are unprepared for some of the difficult financial decisions to be made. This also includes raising the retirement age and cutting wasteful health care spending.

According to experts at the German Economic Institute, about 5.2 million Germans will reach retirement age in the next four years, while only 3.1 million Germans will reach the age of 20 and be ready to go to work.

It is noted that the elderly will require more expensive healthcare, which and the aging population will "further burden the German pension system." According to the agency, pensions already account for more than one-fifth of the country's public expenditures.

Change of power: German elections won by the opposition CDU/CSU party

Friedrich Merz will be the new chancellor.

The head of the Federation Council's commission on information policy, Alexei Pushkov, said earlier in the day that Merz would continue Germany's policy of self-liquidation as chancellor. According to him, the political split in the federation "will deepen."

The CDU/CSU bloc won 28.6 percent of the vote in Germany's parliamentary elections, with the AdG in second place with 20.8 percent. The Social Democratic Party of the incumbent Chancellor of Germany Olaf Scholz took third place with 16.4%. At the same time, the Free Democratic Party (FDP) and the SSV did not pass to the Bundestag.