Reuters reports that Deputy Finance Minister Joerg Kukies said that the German economy is likely to reach its pre-pandemic level in the second half of the year, as falling coronavirus infections and progress in the vaccination campaign enable a solid recovery.

In a briefing on Germany's financial stability, Bundesbank Vice President Claudia Buch said prices for residential real estate continued to rise sharply which was pushing up household debt, but the related risks for the financial stability are mitigated by Germany's relatively low level of household indebtedness.