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Germany burdened with €2.4 trillion in public debt, new all-time high

Germany burdened with €2.4 trillion in public debt, new all-time high

Ongoing spending to fight the energy crisis and the COVID-19 pandemic has pushed Germany’s public debt to a historic high of nearly €2.4 trillion, Spiegel reported.

Final figures from the Federal Statistical Office released on Friday put the debt of the federal government, states, municipalities and social security, including all off-budget entities, at €2.368 trillion.

On a per capita basis, this represents an increase in debt of €244, to €28,164.

These statistics only take into account liabilities to the non-public sector, such as banks and private companies both at home and abroad.

Of the total debt, €1,620.4 trillion is owed exclusively to the federal government, reflecting a 4.6% increase.

In contrast, liabilities of the states fell by 5% to €606.9 billion.

Among the states, Saarland once again had the highest per capita debt at €13,651, followed by Schleswig-Holstein with €11,188.

The lowest per capita debts were recorded, as in previous years, in Saxony with €1,352 and Bavaria with €1,425.

Funding Zelensky is getting costly!

VATTAJ NEWS


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