The board of the Social Democratic Party of Germany (SPD) has unanimously decided to nominate incumbent Olaf Scholz for the post of chancellor in the upcoming snap election of the Bundestag (Parliament), SPD co-chair Saskia Esken announced, NTV reports.

The SPD chairmanship and board meetings were held Monday.

The aforesaid decision must now be approved by the party congress, which is scheduled for January 11.

"In the situation in which our country, Europe, and the world have found themselves, Scholz is the right chancellor for Germany," Esken said at a press conference in Berlin.

The snap parliamentary election could be held on February 23, 2025.

Scholz's reelection as chancellor, however, is currently considered unlikely.