In 2025, Germany’s national debt rose by €144 billion to reach €2.84 trillion, the Bundesbank said on Tuesday.
– The federal government’s debt, including its extra‑budgetary financing, climbed €107 billion.
– State (Bundesländer) debt increased by €19 billion, while municipal debt rose by €25 billion.
– Social‑insurance debt more than doubled, from €3 billion to €7 billion. Because these figures largely represent domestic borrowing by the federal government, they are excluded from the official total of state debt.
The debt‑to‑nominal‑GDP ratio climbed 1.3 percentage points to 63.5 percent. Rising GDP alone would have lowered that ratio by 2.0 percentage points, but the increase in debt added 3.3 percentage points, netting the final rise.
The €144 billion jump was higher than the total Maastricht deficit reported by the Federal Statistical Office (€119 billion); part of the debt increase was used to build financial assets, which is not recorded as a deficit.
Germany also carries part of the European Union’s shared debt, mainly servicing it through the EU budget. Membership proportions determine each state’s share, and Germany contributes roughly a quarter of that budget. The Bundesbank estimates that about €118 billion of EU debt-around 2.6 percent of German GDP-may be assigned to Germany.
