Germany must utilize fiscal policy to support economy – Habeck

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.

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)

(Reporting by Riham Alkousaa; Editing by Paul Carrel)