Schultz: Germany is not in danger of bankruptcy

German Chancellor Olaf Schultz said that his country is not threatened with bankruptcy in the foreseeable future, and it will be possible to reduce public debt to the level that existed before the coronavirus epidemic.

“No, not at all,” Schultz said in an interview with ZDF, when asked if Germany is in danger of bankruptcy, and added that “all forecasts are now calculated for a very short period, so unless there is a major economic downturn or an escalation of the war ( in Ukraine) This will have consequences for the whole world, everything will be different.”

He continued: “If things go well, debt levels are likely to reach pre-epidemic levels within a relatively short period,” stressing that “Germany has a lot of economic power” and this will provide the necessary economic growth.

Schultz called the crisis in Ukraine “a turning point that changed everything” and at the same time expressed confidence that Germany would be able to handle the crisis.

Source: TASS