IMF: German economy to gather strength as vaccinations become widely available

With vaccinations becoming widely available and lockdowns phasing out, the German economy is expected to gather strength, the International Monetary Fund (IMF) said on Thursday, per Reuters.

Additional takeaways

"German government's extraordinary COVID-19 support measures comprise excellent use of its accumulated fiscal space."

"German growth outlook remains highly uncertain, the balance of risks tilted to the downside."

"Germany's job protection schemes should remain in place until recovery is sustainable."

Market reaction

Germany's DAX 30 Index edged higher on these remarks and was last seen gaining 0.8% on a daily basis at 15,323.