German Finance Minister says more debt will support economic recovery

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Monday, September 07, 2020 - 17:37
Point Trader Group
German Finance Minister says more debt will support economic recovery

German Finance Minister Olaf Schultz said on Monday that his country's economy is recovering from the shock of the Corona virus and will reach the size it was before the crisis at the beginning of 2022 at the latest.

"We see that the recovery of the economy is moving forward. That is a good sign," Schultz told Reuters, adding that the German economy may also return to its pre-crisis level before 2022 if the recovery is supported in the right way.

That is why he plans to take in a large new debt next year to support the economic recovery that the government says has helped through the bailout and stimulus measures it has already taken, Schultz said.


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