Chancellor Olaf Scholz said he’s sure Germany will avoid a recession this year, offering reassurance for Europe’s largest economy as it faces down Russia’s energy squeeze.
Germany is getting through the winter energy crunch in better shape than feared just a few weeks ago, and Scholz said that diversifying gas supplies has been critical in helping to keep the economy going.
“I’m absolutely convinced that this will not happen — Germany going into a recession,” Scholz said Tuesday in an interview with Bloomberg Editor-in-Chief John Micklethwait. He also voiced confidence about smoothing over a dispute with the U.S. over climate subsidies and managing China’s emergence as a political and economic power.
