Der Spiegel reported that the national debt of Germany has reached an all-time high, exceeding €2.3 trillion
The German national debt to banks and private organizations exceeded 2.3 trillion euros and reached a historical maximum. This was reported by the publication Der Spiegel.
It is noted that the growth of national debt was provoked by coronavirus restrictions and measures to support the population during the pandemic.
Currently, the national debt of Germany is at its highest level ever in the history of its statistics. It rose 6.8 percent (148.3 billion euros) in 2021, the paper noted.
The maximum increase was recorded by the federal government, up 10.3 percent during the year. The debt of the Länder rose by 0.4 per cent and that of municipalities by 0.6 per cent.
Earlier, Redaktionsnetzwerk Deutschland (RND), citing an internal Finance Ministry document, reported that German Chancellor Olaf Scholz, former finance minister, had made mistakes in financial policy that cost the country billions of euros in losses.
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