German public debt reached all-time high at end-2022

ANKARA

Germany's public debt reached an all-time high of €2.37 trillion ($2.6 trillion) at the end of 2022, according to provisional data released on Wednesday.

The debt owed by the overall public budget to the non-public sector rose 2% year-on-year or €46.1 billion from a year earlier, the Federal Statistical Office (Destatis) reported.

The hike stemmed from climbing financing requirements due to the coronavirus pandemic and the energy crisis.

Compared with the end of the third quarter of last year, debt grew 1.8%, or by €41.9 billion.

Per capita debt amounted to €28,155.

The non-public sector comprises credit institutions and the remaining domestic and non-domestic sector, for instance private businesses in both Germany and abroad.