German finance chief says Covid surge shows now is not the time to reopen economy

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Europe's most powerful economy has suffered from the coronavirus pandemic, having faced different waves of infections and subsequent lockdowns.

In 2020, the German economy contracted almost 5%, according to data from the International Monetary Fund, and is only seen growing by 3.6% this year.

Armin Laschet, leader of the North Rhine-Westphalia, for instance, said on Monday there should be a nationwide lockdown. But only last week he had asked for flexibility so that the various state leaders could fight the pandemic as they see fit. Chancellor"If we could come to similar measures in all the places this would help a lot and make it more understandable," Scholz said, referring to the different regional approaches.

As of Tuesday, Germany had registered more than 2.9 million cases of Covid-19 and 77,103 deaths, according to data from the European Centre for Disease Prevention and Control. Speaking to CNBC, Scholz appeared confident about the upcoming weeks and months for Covid vaccinations.

 

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