German public debt falls slightly

Government debt fell slightly in 2016, official figures released on Thursday by the Federal Statistical Office showed.

German government entities at all levels had a combined debt of roughly 2.01 trillion euros in 2016, or 24,407 euros of debt per capita, down from 24,829 euros in 2015.

Public debt thus fell slightly by 15.1 billion euros or 0.7 percent compared to 2015. Debt reductions occurred across all levels of government.

The federal government reported debt of 1.26 billion euros in 2016, a decrease of 5.7 billion euros or 0.5 percent. State governments achieved an even larger reduction in their debt burdens — by 8 billion euros or 1.3 percent to a total of 605.3 billion euros.

Germany’s public social insurance scheme had 434 million euros of debt, 11.1 percent or 54 million euros less than the previous year.

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