The latest economic data provides hope that Germany's economy can return to pre-crisis levels in early 2022, Reuters repoted, quoting Finance Minister Olaf Scholz.

Germany's rising level of government debt is not a problem because the country can tackle the situation with “good growth”, Scholz told TV station CNBC in an interview.

Scholz rejected concerns that state aid was artificially keeping alive companies that were in financial troubles in the wake of the crisis caused by the coronavirus pandemic.

Germany's government has taken steps such as allowing firms to delay bankruptcy filings until the end of the year, extended from an original deadline of end-September.