German Finance Minister says it 'can afford a lot, but not everything': FT – Reuters

FILE PHOTO: German Minister of Finance Olaf Scholz delivers a speech during a roundtable with the theme ‘International seminar on digital economy and social development’ at Renmin University in Beijing, China, 17 January 2019. Wu Hong/Pool via REUTERS

BERLIN (Reuters) – German Finance Minister Olaf Scholz acknowledged that a slower growth of Europe’s largest economy would lead to lower tax receipts and increased pressure on the budget, the Financial Times reported on Friday.

“We can afford a lot, but not everything, and not at the same time,” Scholz was quoted as saying.

The German economy was still continuing to move forward, and employment was at a “truly remarkable” high, the center-left minister said.

“A lot of companies are very confident about their future prospects.”

Reporting by Thomas Seythal, Editing by Sherry Jacob-Phillips

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