Germany will not fall into recession, insists Scholz
The TelegraphGermany will avoid a recession this year, Chancellor Olaf Scholz has insisted, despite the energy crisis which has ravaged its economy. Mr Scholz said that new liquefied natural gas terminals on the Baltic and North Sea coasts would help cushion the blow from the energy crisis on Germany’s crucial manufacturing sector. “I’m absolutely convinced that this will not happen – Germany going into a recession,” he told Bloomberg ahead of a speech at the World Economic Forum in Davos on Wednesday. Germany has been boosted by unseasonably warm weather, which has reduced gas consumption over winter and helped energy prices fall to pre-invasion levels. Christian Lindner, Germany's finance minister, said plunging gas prices suggested the government would spend tens of billions of euros less than initially anticipated to help struggling families deal with rising energy bills.