German Finance Minister: There Is Justified Hope That Pandemic Will Be over by Summer

21 March 2021

By David Barwick – Frankfurt (Econostream) – German Finance Minister Olaf Scholz on Sunday said that hopes of an end to the pandemic by summer were justified.

In an interview with German weekly Bild am Sonntag, Scholz said with respect to the public health situation that ‘slowly it is getting better.’

‘Every week we are getting more vaccine doses, by the end of April it will probably already be five million, by the end of June ten million per week’, he said. ‘So there is justified hope that the pandemic will be over by the summer. Then a reasonably normal life will be possible with only a few restrictions.’

Scholz damped expectations of significant opening steps now, given the ‘clearly rising’ numbers of new infections. Where these are very high, opening plans will have to be put on hold, he said.

Even with an economic recovery, the government will lack revenues and at the same time need to continue spending, he said. He repeated his insistence that the government not reduce investment or social welfare spending, and said it would be ‘right to stimulate the incipient upswing.’

‘This is the quickest way out of the crisis’, he added. ‘It would be fundamentally wrong to try to save our way out of it.’