The government debt of Germany declined by 2% in the first quarter

The government debt of Germany decreased in the first quarter by 40 billion 100 million euros to 1 trillion 950 billion euros, the Federal Statistical Office of Destatis reported. Last year, the absolute volume of debt and the debt burden on the economy of the FRG began to decline for the first time in all 22 years of its existence. Debts are reduced at all levels. Following the results of the first quarter, federal debt fell by 1%, the debt of federal lands - by 4%, unliquidated obligations of German cities and communes - by 2.5%. Thanks to the restoration of economic growth, record high employment and high demand for German exports, tax revenues in May rose by 6.8% compared to April. In 2018, the Ministry of Finance of Germany intends to place debt obligations in the amount of 181 billion to 185 billion euros in total.

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