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German debt reaches all-time high ...News
Soaring state borrowing is linked to the energy crisis, government statistics service has said Germany’s public debt reached a new record of €2.37 trillion ($2.6 trillion) at the end of 2022, data released by the Federal Statistical Office (Destatis) on Wednesday showed. The debt owed by the overall public budget to the non-public sector rose 2% year-on-year, or by €46.1 billion ($50 billion), compared to 2021. Destatis attributed the increase to emergency measures during the Covid-19 pandemic and the energy crisis. Compared to the end of the third quarter of 2022, debt soared by 1.8% or €41.9 billion ($45.5 billi
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