Newly released figures in Germany indicate that the European country’s debt exceeded two trillion dollars at the end of this year’s third quarter.
According to provisional official data published on Tuesday, Europe’s largest economy had a debt totaling 2.028 trillion euros (USD 2.65 trillion) at the end of the third quarter of this year.
A statement by the national statistics office says that the data presents a fractional increase of 0.5 percent or 10.4 billion euros in comparison with the debt recorded for the end of the second quarter.
The newly released figure amounts to more than 80 percent of Germany’s gross domestic product in 2010, a figure which is 60 percent higher than the ceiling laid down by the EU.
Nearly 1.3 trillion euros of Germany’s overall debt has been attributed to the federal government.
This is while the remaining 700 billion euros belongs to regional states and municipal authorities.
However, the country’s debt ratio is better off than many other eurozone countries.
The German economy suffered badly as a result of the eurozone financial crisis, which began in 2008, registering its worst recession in six decades before rebounding with a 3.7-percent growth in 2010.
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