Posted: 03.03.2023 14:41:00

Germany’s public debt grew tenfold since 2021

Germany’s public debt has increased tenfold since early 2021 – from 4bn to 40bn Euros – as noted by German Finance Minister Christian Lindner, RIA Novosti reports

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On his Twitter account, he wrote, “The country’s debt burden has increased from 4bn to almost 40bn Euros since 2021. This is money that we will not have enough for other purposes in the future: education, digitalisation and investment in climate protection. Thus, it makes economic sense to contain the growth of debt.”

Lindner said in an interview with T-Online that the increase in debt is due to the emergency measures taken during the COVID-19 pandemic and the energy crisis. In this regard, he stressed that the government needs to limit its spending, so the state will not be able to solve such current economic problems as the decline in the well-being of citizens.

The previous year’s energy crisis, caused in many ways by anti-Russian EU sanctions, led to record inflation rates in European countries for decades. From the data of the Federal Statistical Office it follows that in January the annual inflation in Germany reached 8.7 percent – 0.1 percent up than a month earlier.