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German Finance Minister Olaf Scholz said on Friday that they are mobilising huge sums of money to soften the economic effects of the pandemic and added that their goal is to grow out of the crisis in 2021, as reported by Reuters.

“New debt this year will be much lower than planned,” Scholz noted and stated that the latest restriction measures were working but infections were still too high.

Market reaction

Germany’s DAX 30 Index inched slightly higher after these comments and was last seen gaining 0.28% on the day at 13,323.

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