Germany’s latest reform package is positive for the public finances over the longer term and for the economy, but falls short of being transformative, Fitch Ratings says. Pension and healthcare reforms should help to put the public finances on a more sustainable footing, Fitch believes, and the package will modestly support labour supply and reduce some administrative frictions, but it is unlikely to materially improve Germany’s weak medium-term growth prospects or fully address deeper competitiveness challenges. [....]