German National Debt Rises to €2.49 Trillion in 2024

Government borrowing increased by €43.5 billion in the first three quarters, with significant debt growth in municipalities and select federal states.

Germany's total public debt reached €2.49 trillion by the end of September 2024, reflecting a 1.8% increase compared to the end of 2023.
Federal borrowing rose by €22.8 billion (1.3%), with the Bundeswehr's special fund debt surging nearly 170% to €15.5 billion.
Municipal debt showed the largest proportional increase, climbing 5.6% to €163.4 billion, driven by sharp rises in Mecklenburg-Vorpommern and other regions.
Among federal states, Mecklenburg-Vorpommern saw the highest debt growth at 13%, while Niedersachsen, Hamburg, and North Rhine-Westphalia managed to reduce their liabilities.
The debt of the Social Security system declined by 1.7%, and the COVID-19 Economic Stabilization Fund's debt dropped by 24% to €28.1 billion.