BERLIN (Reuters) – The cyclical weakness of the German economy shouldn’t be perceived as a structural problem, German Chancellor Olaf Scholz said on Thursday in an interview with business weekly Wirtschaftswoche.
“It would be a serious mistake to conclude from this cyclical weakness that something is fundamentally wrong,” Scholz said, blaming the slowdown of the economy on the weakening of export markets.
However, he noted that Germany has benefited from globalisation like few other countries and said the country shouldn’t question its export orientation.
“Germany is and will remain economically strong and a world market leader with its unique interplay of large corporations and many small and medium-sized enterprises,” the Chancellor said.
(Reporting by Maria Martinez, Editing by William Maclean)