The German general government’s debt last year was at pound 2.57 trillion ($2.79 trillion), up by pound 71 billion on a yearly basis, Bundesbank said on Friday. The debt to the country’s nominal gross domestic product (GDP) ratio fell by 2.9 percentage points to 66.4% in 2022, it added. Public debt in Germany is defined according to the Maastricht criteria. Although public debt in 2022 was well below 2010’s peak level of 82.4%, it remained above the 60% ceiling target in line with the Maastricht criteria. In 2019, before the pandemic, Germany remained below this limit with a debt ratio of 59.6%. Last year, the country’s debt grew more slowly compared to 2020 and 2021, related to easing pandemic conditions.
Source: Anadolu Agency – English