Germany’s Public Debt Climbs as Special Funds Drive Borrowing
At the end of the quarter, the general public budget owed €2.75 trillion, equivalent to about $3.12 trillion, to the non-public sector.
Preliminary figures showed that public debt rose 1% from the first quarter, representing an increase of €26.3 billion.
The general public budget covers the federal government, state administrations, municipalities and social security institutions, as well as additional public-sector budgets. The non-public sector includes private companies and credit institutions.
Federal government debt climbed 1.1%, adding €20.5 billion from the previous quarter to reach €1.9 trillion.
The increase was largely linked to two special funds, which had also contributed to higher borrowing in the previous quarter.
Debt held through the Infrastructure and Climate Neutrality fund jumped 39.1%, rising by €13.8 billion to €48.9 billion.
Meanwhile, the Bundeswehr special fund recorded an 8.8% increase in debt, adding €4.2 billion and bringing its total to €51.6 billion.
State governments also recorded a rise in their debt levels. Their combined liabilities reached €646.2 billion at the end of the second quarter, up 0.5%, or €2.9 billion, from the previous quarter.
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