Economics Minister appoints Bundesbank specialists as leading economic advisors
The German Federal Economics Ministry has appointed economist Benjamin Weigert as the new head of its economic policy department, according to reports by ntv.de, sourced from AFP. This follows the confirmation of Weigert's appointment, which was initially reported by Handelsblatt on Monday.
Prior to his new role, Weigert served as secretary-general of the Council of Economic Experts. He also headed the financial stability department at the Bundesbank since August 2016. Notably, Weigert is an expert in economic research, known for assessing the effects of regulatory bank levies in Germany.
In his new position, Weigert will shape and oversee key economic strategies and policies aimed at strengthening Germany's economic and industrial base. This includes advancing initiatives to make it easier for innovative companies to grow, improving investment conditions, simplifying regulations, and addressing competitive disadvantages such as high energy costs.
The ministry's economics policy department, under Weigert's leadership, is expected to once again assert its central regulatory role within the federal government. Federal Economics Minister Katharina Reiche (CDU) believes that her ministry's economics policy department has "much more potential" than it has shown in recent years, and Weigert's appointment is seen as a step towards realising this potential.
Weigert is set to replace Elga Bartsch, who was appointed by Robert Habeck (Greens) in September. Bartsch will continue to serve in her role at the Bundesbank. The formalities for Weigert's move to the economics policy department are now complete.
The focus of Weigert's department will be on making the economy more resilient to shocks and ensuring the transition away from fossil fuels. This will involve implementing affordable energy action plans and supporting infrastructure investments, such as grids, interconnectors, and storage.
In summary, economist Benjamin Weigert leads economic policy efforts at the German Federal Economics Ministry, focusing on innovation growth, investment facilitation, regulatory simplification, and energy transition to strengthen Germany's economic resilience and competitiveness.
In his new role at the German Federal Economics Ministry, Weigert will contribute to the formulation and implementation of various policies that span multiple sectors, including employment policies, finance, and business. These strategies aim to bolster Germany's economic and industrial base by fostering innovation, simplifying regulations, and addressing competitive disadvantages such as high energy costs.
Additionally, Weigert's department will focus on ensuring a smooth transition away from fossil fuels, with an emphasis on affordable energy action plans and supporting necessary infrastructure investments for grids, interconnectors, and storage, thereby contributing to general-news stories related to politics, economy, business, and environment.
