Germany’s public debt exceeds two trillion euros, growing steadily this quarter. Federal Statistical Office reports increased public debt across German regions and municipalities.
Spending on infrastructure and defense funds significantly contributed to the debt growth.
Infrastructure and climate special fund debt grew markedly, reaching substantial euro amounts. Military modernization fund debt also increased, albeit at a more moderate rate.
Despite high energy prices, Germany’s economy expanded faster than experts initially forecast. Analysts predict rising budget deficits for this year and subsequent coming years.