Germany cuts public debt to €2.15 trillion in 2015

Germany's Bundesbank announced on 31 March 2016 that country had shaved €24 billion off its overall public debt burden to €2.153 trillion in 2015. Measured against the gross domestic product (GDP), that meant Germany’s total public debt ratio fell to 71.2 percent last year from 74.7 percent in 2014.

Germany’s public finances registered a surplus since 2014 due to the robustness of its domestic economy and low interest rates. The government decided to use the budget surplus to bring down its overall debt.

• Primary Source

ESO: Background information: Bundestag approves 2015 budget with no new debt http://www.europeansources.info/record/bundestag-approves-2015-budget-with-no-new-debt/

Germany: Bundesbank: Press Release, 31.03.16: German general government debt down in 2015 by €24 billion to €2.15 trillion - debt ratio down to 71.2% https://www.bundesbank.de/Redaktion/EN/Pressemitteilungen/BBK/2016/2016_03_31_schuldenstand.html

---