German Finance Minister Olaf Scholz acknowledged that a slower growth of Europe’s largest economy would lead to lower tax receipts and increased pressure on the budget.

The German economy was still continuing to move forward, and employment was at a “truly remarkable” high, the center-left minister said.

“A lot of companies are very confident about their future prospects”, added Scholz.

Scholz also commented the situation around Brexit:

• Irish border is the most difficult political question

• It is an issue of peace and must have a good solution

• Hopes it will be done in the next few days

• Hopes there will be an agreement on Brexit by 29 March

• No one expected that we would not know yet what will happen with Brexit

• We are prepared for hard Brexit in Germany