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German government debt levels trimmed after strong 2017

Europe
29.03.2018
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Frankfurt (dpa) - High tax takes and low interest rates helped Germany to lower its debt burden slightly in 2017, dropping by 53 billion euros (65.3 billion dollars) to 2.093 trillion euros, reported the Bundesbank, Germany‘s central bank, on Thursday.

The debt rate, which compares debt to gross domestic product, went down by 4.1 percentage points, to 64.1 per cent, which still puts the eurozone‘s biggest economy afoul of rules dictating that members of the joint currency keep that figure at 60 per cent or lower.

Nonetheless, the figure is an improvement over recent years. In 2010, it stood at 80.9 per cent.

 

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