German public debt rises to 2.3 trn euros in 2021: Destatis

BERLIN, March 30 (Xinhua) -- Germany's public debt grew by almost 147 billion euros year-on-year and reached a new record high of 2.3 trillion euros (2.55 trillion U.S. dollars) in 2021, according to official figures released on Wednesday.

The Christmas market on the square in front of the famous gothic cathedral in Cologne, Germany on November 28, 2017. (File photo: VCG)

The increase in the country's national debt was mainly caused by "actions taken to address the COVID-19 pandemic," said the Federal Statistical Office (Destatis).

In the first two years of the COVID-19 pandemic, Germany supported its economy with 130 billion euros, including 24 billion euros for short-time work benefits, a form of state aid to avoid layoffs during crisis.

In mid-March, the government agreed to take the new debt of almost 100 billion euros in 2022. "With what is likely to be the last pandemic budget, we already wanted to make progress on the road to fiscal normality," said German Minister of Finance Christian Lindner.

Germany's tax income in 2021 rose by 11.5 percent year-on-year and reached 761 billion euros, according to the Ministry of Finance (BMF). (1 euro = 1.11 U.S. dollars)