Ministry of Economic Affairs
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Ministry of Economic Affairs
The highest authority of a state or federal state that is responsible for shaping economic policy.
Das Wirtschaftsministerium hat neue Förderprogramme für kleine Unternehmen angekündigt.
The Ministry of Economic Affairs has announced new funding programs for small businesses.
The word is a compound of 'Wirtschaft' (economy), the linking -s, and 'Ministerium' (ministry). So it is the ministry responsible for the economy.
Der Chef des Wirtschaftsministeriums ist der Wirtschaftsminister.
The head of the Ministry of Economic Affairs is the minister of economic affairs.
In news and official texts, the ministry often appears as the acting subject. Typical verbs are then 'plant' (plans), 'informiert' (informs), 'fördert' (supports/funds), or 'kündigt an' (announces).
Das Wirtschaftsministerium plant eine Reform der Unternehmenssteuern.
The Ministry of Economic Affairs is planning a reform of corporate taxes.
In official texts and in the news, an abbreviation is often used. For the German federal ministry, for example, this is 'BMWK' (Federal Ministry for Economic Affairs and Climate Action).
Die genauen Zahlen finden Sie auf der Webseite des BMWK.
You can find the exact figures on the BMWK website.
finance ministry
'Finanzministerium' and 'Wirtschaftsministerium' are both top-level government authorities. They can easily be confused because both have to do with politics, money, and companies. But their focus is different. The 'Finanzministerium' deals with the state budget, taxes, customs duties, and public finances. The 'Wirtschaftsministerium' deals with economic policy, for example companies, markets, and economic development. When it is about taxes and the state budget, 'Finanzministerium' fits. When it is about the economy as an area, 'Wirtschaftsministerium' fits.
Das Wirtschaftsministerium unterstützt ein Projekt für kleine Unternehmen.
The Ministry of Economic Affairs is supporting a project for small businesses.
Das Finanzministerium plant neue Regeln für die Steuer.
The finance ministry is planning new rules for the tax.