Germany may rein in coronavirus debt if economy improves: finance minister

📆 19/04/2020 02:40:00
📰 Reuters

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Germany may be able to manage the fiscal impact of the coronavirus crisis without exceeding approved debt levels if the economy recovers in the second half of the year, Finance Minister Olaf Scholz said in an interview published on Sunday.

FILE PHOTO: German Finance Minister Olaf Scholz attends a Reuters interview in his office in Berlin, Germany, April 15, 2020. REUTERS/Hannibal Hanschke

He said that Germany would aim to recover the outlays over a long-term period without having to make substantial savings elsewhere. A demand by his Social Democratic party in a coalition government led by Chancellor Angela Merkel’s conservatives, he said such taxation needed to be “fair and just,” supporting lower income groups as well.

Scholz said that he would aim to provide economic stimuli, if necessary, after the end of the current lockdown policy that keeps businesses shut and the population at home.

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Well done Germany. The world needs your leadership and solidarity now more than ever.

May, If....next

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