German November lockdown will hit fourth quarter growth but aid should help: Scholz

German Finance Minister Scholz and Justice Minister Lambrecht hold news conference in Berlin
FILE PHOTO: German Finance Minister Olaf Scholz wearing a face mask arrives for a news conference in Berlin, Germany, October 7, 2020. REUTERS/Hannibal Hanschke

November 12, 2020

BERLIN (Reuters) – Germany’s partial lockdown in November will dampen growth in the fourth quarter but a government aid package should cushion the impact, Finance Minister Olaf Scholz said on Thursday.

The aid package to compensate companies for the partial lockdown will likely cost more than an initially planned 10 billion euros ($11.79 billion), Scholz added.

(Reporting by Michael Nienaber; Writing by Paul Carrel, editing by Emma Thomasson)