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German government debt at $2.8 trillion in 2022

German government debt at $2.8 trillion in 2022
Public debt to GDP ratio at 66.4% last year, above target level

By Gokhan Ergocun

ISTANBUL (AA) - The German general government's debt last year was at €2.57 trillion ($2.79 trillion), up by €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: News Feed
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