Dr Friederike (Fritzi) Köhler-Geib has been KfW Chief Economist and head of the company's economics department since November 2019. She analyses trends relevant for KfW in the economy, society and on the financial markets and brings a new dynamic to the economic and financial policy debate. The focus of her work lies in the analyses of economic developments and growth trends in Germany. A particular focus is placed on small and medium-sized enterprises and the role of innovation and digitalisation in improving competitiveness, as well as issues related to the goal of a climate-neutral economy. Furthermore, Dr Fritzi Köhler-Geib also actively addresses economic policy connections between Germany, Europe and the world.
“The fact that the digitalisation push triggered by the COVID-19 pandemic in the SME sector continues is good news. Given the great challenges the ongoing transformation to a digital economy and society poses for our country, further efforts are necessary. Various starting points are possible for stimulating digitalisation activities in the SME sector. They range from developing and improving the digital skills of the workforce through reducing funding barriers and giving greater attention to the strategic importance of digitalisation to expanding the country’s digital infrastructure. Only in this way can small and medium-sized enterprises unlock their full potential in the digital transformation and preserve and enhance their competitiveness.”
KfW SME Digitalisation Report 2023
“At the April meeting of the ECB, the majority of Council members will probably vote for unchanged key interest rates. However, the significant progress made in the fight against inflation opens up scope for an early easing of monetary policy. I believe a reduction in the deposit rate by 25 basis points before the summer break is very likely, provided the data for the coming months underpins the trend back towards sustained price stability. In addition to a decline in wage growth, a noticeable slowdown in services inflation, which has been stuck at 4% since November, is particularly important. Services are so relevant for the development of inflation because they account for around 45% of the consumer basket. In recent months, these stubbornly high price increases have been offset by falling inflation for food and industrial goods. During this period, the inflation-dampening effect of falling energy prices has already weakened noticeably, and should be history by May at the latest. It could even happen sooner, as geopolitical tensions and a restrictive OPEC+ policy are currently pushing up the oil price.”
Previous comments from Dr Fritzi Köhler-Geib
Russia’s war of aggression against Ukraine and the COVID-19 pandemic have shaken the foundations of a rules-based world order and the German economic model. Even amid the necessary short-term crisis management, investments are key to successful adaptation to the changed environment. They make restructuring energy supplies and the green and digital transformation possible – and demand a joint effort by government, the business community and private households. The lion’s share of necessary investment will have to come from the private sector. The current burdens from high energy costs and uncertainties act as additional roadblocks. So it is all the more important to encourage and provide intelligent support for private investment. Government therefore has a key role to play: first, by formulating targets and setting frameworks and incentives and second, by investing in infrastructure and human capital, both of which are required for the productive realisation of private-sector activity.
A boost in investment for the transformation – what exactly is needed?
Further position papers and publications on the coronavirus and the crisis
Rebuilding the economy after COVID-19 and tackling the climate crisis must go hand in hand. For Germany to achieve its target for climate action, it needs to tap into overlooked areas of potential to reduce its CO₂ emissions. In particular, this process will be essential for the transport sector. And there is even more that can be done with innovative building solutions.
22.04.2024 | DZ Bank Konferenz, Berlin
24.04.2024 | TSI Kongress, Frankfurt
24.04.2024 | Fachgespräch Bundestag zu "Investitionsbedarf in Deutschland"
30.04.2024 | 1. Atlantik-Brücke Strategy Session, Frankfurt
14.05.2024 | Deutscher Stiftungstag 2024, Hannover
22.05.2024 | Sitzung des Mittelstandsrats, Berlin
03.06.2024 | Ostdeutsches Wirtschaftsforum 2024, Bad Sarrow
04.06.2024 | BDI Ausschusssitzung, Frankfurt
10.06.2024 | ACHEMA 2024, Frankfurt
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