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Reuters
Reuters
Business

Germany will not fall into recession, Scholz tells Bloomberg TV

Bloomberg TV Olaf Scholz Recession Germany Berlin Economy Europe Washington D.C.
German Chancellor Olaf Scholz gives a statement to the media, while standing with Foreign Minister Annalena Baerbock, on the day of their visit to the Federal Office of Foreign Affairs to learn about the processing of visa applications in Brandenburg an der Havel, Germany, January 17, 2023. REUTERS/Fabrizio Bensch

German Chancellor Olaf Scholz said on Tuesday he was convinced Europe's largest economy would not fall into a recession despite soaring energy and food prices in the wake of Russia's invasion of Ukraine.

German economic output stagnated in the final quarter of 2022 but grew 1.9% over the full year, data showed last week, coming in slightly higher than expectations.

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