German public debt is going down to 63.7% of GDP in 2023.

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German public debt is going down to 63.7% of GDP in 2023.

According to the Bundesbank, this decrease in public debt was due to the growth of the German economy driven by inflation. Indebtedness reached 2.62 billion euros, 62 billion more than in 2022, an increase similar to that registered during that year, but significantly weaker than in 2021 and 2020. This increase in indebtedness was offset by an increase in the nominal value of the Gross Domestic Product (GDP) of 6.3%, which was mainly due to infl…