Main article: German economy
2024:62% OF GDP
2023
Public debt - 67% of GDP
10-year yield hits highest since 2011 at 3.01%
On September 21, 2023, borrowing costs in Germany peaked since 2011.
The yield on Germany's 10-year government bond rose 0.06 percentage point in early trading on Oct. 4 to 3.01%, the highest mark since 2011, LSEG data showed. Due to the unleashed conflict with Russia, German taxpayers will have to spend more on debt servicing.
New loan plan cut to €500bn as households and companies hit by soaring energy prices withdraw support
The German government in September 2023 reduced the volume of sales of federal debt obligations planned for the IV quarter, by 31 billion euros (33 billion dollars. USA) as the government curtails financial support for households and companies affected by the sharp rise in energy prices due to the outbreak of conflict with Russia.
Together with the reduction in the third quarter, this will reduce total sales in 2023 by 45 billion euros, but the total issue for 2023 will still be a record at ~ 500 billion euros.
Growth of public debt to a record €2.58 trillion
Earlier, the national debt Germany grew to a record high of €2.37 trillion, the Federal Statistical Office of the Federal Republic of Germany reported in March 2023.
2-year yield jumps to highest level since 2008
In February 2023, the yield on Germany's 2-year bond jumped to its highest level since 2008.
A plan to borrow a record 540 billion euros to overcome the energy crisis
On December 14, 2022, it became known that Germany would borrow a record 540 billion euros to help the country survive the energy crisis.
The previous record just below 500 billion euros was set in 2021, when the country's government was not shy about spending to fight the consequences of the coronavirus pandemic.
2022
Public debt 2.52 trillion euros. The German Accounts Chamber accused the government of underestimating the real size of the public debt by half
The Accounts Chamber Germany in November 2022 accused the government of hiding the deplorable state of the budget. According to her, the cabinet hides the present state of affairs in the treasury and indicates less than half of the present size of the public debt.
Plan to issue a new €140bn federal debt
According to Bloomberg sources in April 2022, Germany will increase loan plans by almost 40 billion euros ($43 billion) in 2022 to mitigate the consequences of the conflict in Ukraine, bringing the total net new debt to almost 140 billion euros.
2021: Issue of Record Debt Volume
Germany has issued a record amount of debt to combat the consequences of the COVID-19 pandemic, annual borrowing from 2020 is about twice the pace of recent years. The output in 2022 will be about 410 billion euros.
New chancellor Olaf Scholz has vowed to restore the so-called "debt brake" in 2023. The rules cap net borrowing at 0.35% of GDP, but parliament has the power to suspend them in emergencies.
2020: Suspension of the public debt limit
The Angela Merkel-led government suspended the constitutional debt limit in 2020.
In December 2020, it became known that Germany wants to sell a record amount of federal debt in 2021 to support the economy.
The country plans to sell bonds and bills worth about 471 € billion euros ($576 billion), which will exceed the previous maximum of 407 € billion euros sold in 2020.
2018: State debt $37.5 thousand per capita
2017: State debt - 64% of GDP
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