Daily Management Review

German public debt rises to record €2.37 trillion


Federal Statistical Office shows that Germany's public debt has increased to a record-high level of €2.37 trillion. The agency attributes the rise to the COVID-19 epidemic support measures and the energy crisis.

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National debt increased by 1.8%, or €41.9 billion, from the third quarter of 2022 to the conclusion of the current quarter. It costs €28,000 per person. National debt rose by 2%, or €46.1 billion, as of the end of 2021.

The debt held by the German federal states at the end of 2022 was € 606 billion, down 5.0% or € 31.7 billion from the end of 2021. The German states also reported a debt decline of 1.2%, or €7.3 billion, when compared to the third quarter of 2022. 

The three German states with the greatest percentage debt reductions from the end of 2021 to the present were Bremen (-37.8%), Saxony (-12.2%), and Hesse (-9.0%).

source: dw.de