BERLIN (dpa-AFX) - Federal Construction Minister Klara Geywitz has announced a package of measures to boost the struggling housing construction sector. The SPD politician said in Berlin on Wednesday after the cabinet meeting: "We have agreed with the Ministry of Finance that we are working on a package of measures, which will include tax incentives." This is now being worked out accordingly, he added.

In the cabinet, a growth opportunity law planned by Federal Finance Minister Christian Lindner (FDP) to ease the burden on the economy was not introduced after all. In response, the construction minister said that Chancellor Olaf Scholz (SPD) had said that the federal government would address economic growth at the cabinet retreat in Meseberg at the end of August. "That's very good news, because of course we also see the need in the Construction Ministry for us to provide additional fiscal stimulus also to revive the construction industry."

Germany is in an economic slump. Residential construction, which had been booming for years, has stalled due to the sharp rise in interest rates on loans and more expensive materials. This is weighing on the construction industry, which was a pillar of the economy during the real estate boom. Geywitz had only recently announced that she wanted to significantly expand tax depreciation options for new buildings./hoe/DP/mis