German Maastricht debt level for 2014 up slightly to €2.17 trillion – debt ratio down markedly to 74.7%

According to provisional calculations, general government debt in Germany as defined in the Maastricht Treaty amounted to approximately €2.168 trillion at the end of 2014. The debt level thus increased by €2 billion on the year. Owing to nominal GDP growth, the debt ratio, ie the level of debt in relation to gross domestic product (GDP), decreased by 2.4 percentage points to 74.7%. 

A general government surplus of €18 billion (as defined in the Maastricht Treaty) was recorded last year. On balance, this funded an increase in government financial assets, rather than a reduction in debt. Support measures for euro-area countries are reflected in the statistics here at around €7 billion, for example, as there was an increase in both German participation in the ESM and receivables arising from EFSF loans. 

Since 2010, general government debt in Germany had been growing steadily by a total of €91 billion, which is equivalent to 3.1% of current GDP, as a result of measures in connection with the sovereign debt crisis in the euro area. The cumulative effect of the support measures in favour of domestic financial institutions since 2008 amounted to €236 billion (8.1% of current GDP). Such effects were becoming smaller in the past two years, however, chiefly on account of government-supported “bad banks” reducing their debts. This process has slowed down of late. If further risk assets can be liquidated in the future and European assistance loans repaid, this will have the effect of reducing the debt level. 

Under the European budgetary surveillance procedure, the member states of the European Union are obliged to submit data on their general government deficit and debt levels to the European Commission twice a year (end of March and end of September). For this purpose, the Federal Statistical Office calculates the deficit as defined by the Maastricht Treaty, while the Bundesbank calculates the Maastricht debt level.



2015 spring notification:

Debt level (€ billion)















as a percentage of GDP65.172.680.577.979.377.174.7