Europe
Germany’s Scholz Rejects Calls for More Spending to Help Economy
- Chancellor sees Germany still well positioned for ‘top league’
- German business confidence took another hit in August
Olaf Scholz
Photographer: Odd Andersen/AFP/Getty Images
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Chancellor Olaf Scholz rejected calls for higher, debt-financed federal spending to boost growth and said Germany is well positioned despite its current weak economic condition.
Europe’s largest economy has “the best pre-requisites to ensure we’ll still be playing in the top league technologically in ten, 20 and in 30 years’ time,” Scholz told Mediengruppe Bayern in an interview published on Saturday.