November 7, 2019 / 10:48 AM / 6 days ago

German economic situation stable, growth to pick up once trade tensions gone: Scholz

FILE PHOTO: German Finance Minister Olaf Scholz holds a news conference on tax revenues in Berlin, Germany, October 30, 2019. REUTERS/Fabrizio Bensch

BRUSSELS (Reuters) - Germany’s economic situation is stable with employment at all time highs and economic growth is likely to pick up in the coming years once global trade tensions are resolved, German Finance Minister Olaf Scholz said on Thursday.

“Germany is in a stable economic situation, it is a very competitive economy that is successful all over the globe,” Scholz told reporters on entering a meeting of euro zone finance ministers in Brussels.

“But there is slow growth in the world economy today, it is mostly the result of trade tensions and uncertainty. But if we get over this situation and if there is an agreement between China and the United States on trade we will have more growth worldwide. This will help the European and also the German economy,” he said.

“We still have a very strong economic situation, an all time high of employment, there are a lot of industries looking for more labor ... so this is a stable situation, we will have more growth in the next years and if the trade tensions worldwide are reduced this will have a real impact on better growth,” he said.

Reporting By Jan Strupczewski

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