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Germany must utilize fiscal policy to support economy - Habeck

Published 09/22/2022, 11:09 AM
Updated 09/22/2022, 11:12 AM
© Reuters. FILE PHOTO: German Economy Minister Robert Habeck addresses members of the German lower house of Parliament, or Bundestag, during a debate on energy supply, in Berlin, Germany September 22, 2022. REUTERS/Michele Tantussi

BERLIN (Reuters) - Germany must fully utilize its fiscal policy to preserve the economy and keep business and industry investments, Economy Minister Robert Habeck said on Thursday.

Habeck said the ability of German business and industry to invest was a little worrying given high energy prices, adding that being forced to replace Russian energy imports will cost Europe's biggest economy some 60 billion euros ($58.89 billion) this year and 100 billion next year.

© Reuters. FILE PHOTO: German Economy Minister Robert Habeck addresses members of the German lower house of Parliament, or Bundestag, during a debate on energy supply, in Berlin, Germany September 22, 2022. REUTERS/Michele Tantussi

Chancellor Olaf Scholz will sign contracts to secure liquefied natural gas (LNG) during his trip to the United Arab Emirates at the weekend, he added.

($1 = 1.0188 euros)

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