Germany recorded a Government Budget deficit equal to 2.80 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Germany Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Germany Consolidated Fiscal Balance: % of GDP

• Germany Consolidated Fiscal Balance recorded a deficit equal to 2.8 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 2.8 % in the previous quarter
• Germany Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 1991 to Dec 2024, with an average ratio of -2.5 %
• The data reached an all-time high of 2.1 % in Sep 2018 and a record low of -9.4 % in Sep 1995

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from quarterly Consolidated Fiscal Balance and quarterly Nominal GDP. Statistisches Bundesamt provides Consolidated Fiscal Balance in EUR and Nominal GDP in EUR.


Further information about Germany Consolidated Fiscal Balance: % of GDP

• In the latest reports, Germany National Government Debt reached 2,977.2 USD bn in Sep 2024
• Germany Nominal GDP reached 1,072.8 USD bn in Mar 2023

The budget balance in relation to the gross domestic product (GDP) in Germany amounted to approximately -2.76 percent in 2024. Between 1991 and 2024, the budget balance rose by around 0.45 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The budget balance is expected to drop by about 1.65 percentage points between 2024 and 2030, showing a continuous downward movement throughout the period.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Germany recorded a government budget deficit of 20.92 EUR Billion in the fourth quarter of 2024. This dataset provides the latest reported value for - Germany Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Germany - General gov. deficit (-) and surplus (+) was -2.50% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Germany - General gov. deficit (-) and surplus (+) - last updated from the EUROSTAT on June of 2025. Historically, Germany - General gov. deficit (-) and surplus (+) reached a record high of 2.10% in June of 2019 and a record low of -8.30% in June of 2020.

The national debt of Germany stood at about ************* U.S. dollars in 2024. Between 1991 and 2024, the national debt rose by approximately ************* U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The national debt will steadily rise by around ************* U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.

Germany - Government deficit/surplus, debt and associated data was 62.50 % of GDP in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Germany - Government deficit/surplus, debt and associated data - last updated from the EUROSTAT on July of 2025. Historically, Germany - Government deficit/surplus, debt and associated data reached a record high of 81.00 % of GDP in December of 2010 and a record low of 54.90 % of GDP in December of 1995.

Key information about Germany National Government Debt

• Germany National Government Debt reached 2,977.2 USD bn in Sep 2024, compared with 2,821.5 USD bn in the previous quarter.
• Germany National Government Debt data is updated quarterly, available from Mar 2000 to Sep 2024.
• The data reached an all-time high of 3,101.6 USD bn in Jun 2011 and a record low of 1,054.8 USD bn in Jun 2001.

CEIC converts quarterly Government Debt into USD. The Deutsche Bundesbank provides Government Debt in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Related information about Germany National Government Debt

• In the latest reports, Germany Consolidated Fiscal Balance recorded a deficit equal to 2.6 % of its Nominal GDP in Sep 2024.
• The country's Government debt accounted for 62.4 % of its Nominal GDP in Sep 2024.
• Germany Nominal GDP reached 1,072.8 USD bn in Mar 2023.

The ratio of national debt to gross domestic product (GDP) of Germany amounted to about 63.89 percent in 2024. Between 1991 and 2024, the ratio rose by approximately 24.40 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio will steadily rise by around 10.96 percentage points over the period from 2024 to 2030, reflecting a clear upward trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Germany recorded a Government Debt to GDP of 62.50 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Germany Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Germany DE: General Government: Primary Balance: % of GDP data was reported at -2.771 % in 2030. This records an increase from the previous number of -2.818 % for 2029. Germany DE: General Government: Primary Balance: % of GDP data is updated yearly, averaging -0.524 % from Dec 1992 (Median) to 2030, with 39 observations. The data reached an all-time high of 2.609 % in 2018 and a record low of -6.349 % in 1995. Germany DE: General Government: Primary Balance: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Germany – Table DE.IMF.FM: Government Finance Statistics.

The United States had the largest account deficit of the G7 countries between 2010 and 2023. Moreover, its deficit increased sharply from 2019 to 2022, from minus 442 billion U.S. dollars to minus one trillion dollars in 2024. The account balance of the other six countries fluctuated more, with Germany having the highest positive balance at 312 billion U.S. dollars. In terms of share of gross domestic product (GDP), the United Kingdom had the highest account balance deficit of the G7.

Key information about Germany Consolidated Fiscal Balance

• Germany Consolidated Fiscal Balance recorded a deficit equal to 36.143 USD bn in Dec 2024, compared with a deficit equal to 37.960 USD bn in the previous quarter.
• Germany Consolidated Fiscal Balance data is updated quarterly, available from Mar 1991 to Dec 2024, with an average ratio of -13.408 USD bn.
• The data reached an all-time high of 38.140 USD bn in Jun 2018 and a record low of -160.879 USD bn in Mar 1995.

CEIC converts quarterly Consolidated Fiscal Balance into USD. Statistisches Bundesamt provides Consolidated Fiscal Balance in EUR. Federal Reserve Board average market exchange rate is used for currency conversions.

In 2023, the company health insurance funds (BKK) in Germany built up a deficit of around 430 million euros. The total deficit of the statutory health insurance in Germany totaled almost 1.9 billion euros that same year.

“Public debt is a controversially discussed revenue type of the state. Already in early centuries it was a controversial theme when palatial selfish rulers ran into debt to finance their construction activities (example: Old-Bavarian debt policy in the 17th and 18th century, see Zimmermann, H., 1999: Ökonomische Rechtfertigung einer kontinuierlichen Staatsverschuldung, in: Henke, K.-D. (eds.), 1999: Zur Zukunft der Staatsfinanzierung. Baden-Baden, p. 159). Given the level of public debt the discussion about the theoretical economic foundations and the legal restrictions is highly topical. In addition, the European Monetary Union and the European Stability and Growth Pact induced completely new debt limitations in Germany. Questions concerning the justification and limitation of public debt are not new, but sine 19th century important issues in the financial and political scientific discussion. The exclusivity of the topic public debt is due to the fact that it is not confined to one subject, but must be interdisciplinary discussed from an economic and legal perspective. This is because political and institutional factors need to be taken into account” (Wucherpfennig, a. cit., p.17). Issues associated with public debt are located at the interface between economics, law and politics. A consequence of this is that one subject area cannot ignore the findings of the others. The first part of this study is about the development of public debt and of business cycle policies in the Federal Republic of Germany, about the problems related with increasing public debt, about consolidation efforts and about the legal discussion. In the second part the development of public debt in the Federal Republic of Germany from 1950 to 2004 is presented empirically. Besides the total amount of the net debt and the debt level, the relation to other public finance data is of primary importance. “The level of debt and the annual burden of debt servicing and repayment may not be considered in isolation, but must be seen in relation to gross domestic product and the financial volume. Those relations are important that express the burden on public budgets and the economy through government debt and its associated interest charges. They are more informative than the absolute amount of debt, the new borrowing or the interest charges. Therefor there is no per capita presentation of the numbers. It has been shown that the per capita debt is not informative regarding the financial burden associated with debt.” (Wucherpfennig, a. cit., p. 31). The third part of the study is about the theoretical economic foundation that is important for the evaluation of public debt. “With the help of credits the state is able to widen significantly its opportunities for actions through a short term extension of the revenue side of public budget. The consequence is a medium and long term exposure to the expenditure side of public budget by interest and amortization expense. Those different short and long term aspects of public debt leaded into controversial judgments under finance experts. Accordingly diverse is the assessment of the reliability and need for public debt. Therefor part three presents some chosen theoretical economic approaches” (Wucherpfennig, a. cit., p. 54f). The fourth part is about public debt as a legal problem.

Data tables in HISTAT: A.01 Net borrowing and deficit ratio of the total public budget (1950-2004) A.02 Level of debt and debt ratio of the total public budget (1950-2004) A.03 Net borrowing and level debt of the Federal government (1950-2004) A.04 Interest paid and interest-rate issue of the Federal government (1950-2004) A.05 Interest-tax rate and debt ratio of the Federal government (1950-2004)

Why suffered Germany a crisis of unprecedented scale after a promising stabilization of the Mark in 1923/24 and the subsequent increase, and which factors are linked to the disaster?The study ties in with one of the most controversy in the German economic history of the last decades. In the so-called ‘Borchardt controversy’ the researcher Knut Borchardt questioned the traditional interpretation of the seriousness of the global economic crisis of 1929. The usual interpretation was that the depression and finally the following establishment of the Nazi - regime was due by unforced errors in the economic policies of the last Weimar governments, especially the ‘Brüning deflation policy’. This Keynesian-influenced interpretation was opposed by Borchardts supply side inspired view that even before the global economic crisis the German economy had been sick and that the deflation and a balanced budget policy of Bruning resulted from a dilemma. A central objection to Borchard’s interpretation was the question, why only a year after Bruning´s resignation a dramatic shift to an expansionary monetary and fiscal policies could be initiated.A new interpretation of Brünings deflationary policy is presented in shifting the focal point of criticism of the German economic policy in the period of the ‘Dawes-Plan’. This new focus of criticism leads to a new interpretation of the Borchardt-theses on German’s economic policy in recent years of the Weimar Republic. Germany’s undamped foreign indebtedness since 1924 plays a key role in explaining Germany’s crisis and economic situation between the Dawes-Plan and the transfer stop.The central thesis of the investigation is: “The interdependence between Reparation payments and Germany’s economic trend is the lack of stimulus compatibility of the different reparationregimes. There was no reparation arrangement before the Young Plan fo 1929/30, which gave the German side an incentive for a net transfer of resources. Germany underwent systematical the reparation transfer of the Dawes plan by massive foreign indebtedness. The previous impacts of the German balance of payment by foreign debt contributed causative to the heaviness of Germany’s crisis.” (see: Ritschl, A., 2002: Deutschlands Krise und Konjunktur 1924-1934. Berlin: Akademie Verlag, S. 17). In Ritschl’s opinion the reparations has not been disastrous for the German development. But fateful German attempt to deny reparation payments with maneuvers, leads to Germany’s crisis in the interwar period. Datatables in HISTAT: A-Tables: Data of the German Empire’s budget and of the public sector as a whole.B-Tables: Draft of a national accounting for the years 1925 to 1938 (social product and it’s components).C-Tables: Quarterly interpolation of further timeseries (e.g. paid employment) Topics of the Study:- The Empire’s revenues by financial years (Mio. RM)- Job creation bills of exchange and armor bills of exchange by financial years (Mio. RM)- Net borrowing of the German Empire by financial years (Mio. RM)- Interest payments on the debt of the German Empire by financial years (Mio. RM)- Expenses, revenues and deficit of the German Empire by financial years (Mio. RM)- Quarterly revenues and expenses of the German Empire.- Quarterly circulation of job creation bills of exchange.- Estimated quarterly interest and principal payment of the German Empire.- Expenses and revenues of the German Empire by calendar years.- Expenses and revenues of German states and municipalities by financial years.- Expenses and revenues of the public sector by calendar years.- National income 1913 and 1925 to 1938.- Reallocation of the national income.- Aggregated investments.- Balance of payment.- Expenditure side of the social product.- Foreign trade.- Public and privat consum.- Use of social product.- Paid employment. Territory of investigation: Germany in the borders of Weimar Republic, 1924 – 1934. Survey Method, used sources: - Unpublished archival sources (Federal Archive in Koblenz und Potsdam, Main-Archive of the German Federal Bank (Deutsche Bundesbank), Archive of the Institute for Contemporary History IfZ, Munich.)- Published sources (files of the Reich Chancellery, AdR; proceedings of the Reichstag, 5th term, vol. 448, 456; Foreign Relations of the United States, FRUS, born 1931)- Official Statistics- Other literature (selected scientific publications).

The statistic shows the budget balance in relation to GDP of the DACH countries in Europe between 2020 and 2024, with projections up until 2030. A positive value indicates a budget surplus, a negative value indicates a deficit. The DACH region includes Germany, Austria, and Switzerland. In 2024, Austria's deficit amounted to around 4.69 percent of GDP.

In 2023, the statutory health insurance funds generated a deficit of around -1.89 billion euros. In the years 2019 to 2021 the German statutory health insurance funds also generated deficits, most likely to the increased costs in the healthcare sector due to Covid19.

In September 2023, the national debt of the United States had risen up to 33.17 trillion U.S. dollars. The national debt per capita had risen to 85,552 U.S. dollars in 2021. As represented by the statistic above, the public debt of the United States has been continuously rising.

U.S. public debt Public debt, also known as national and governmental debt, is the debt owed by a nations’ central government. In the case of the U.S., national debt is owed by the federal government to Treasury security holders. Generally speaking, government debt increases with government spending, and can be decreased through taxes. During the COVID-19 pandemic, the U.S. government increased spending significantly to finance virus infrastructure, aid, and various forms of economic relief.

International public debt

Venezuela leads the global ranking of the 20 countries with the highest public debt in 2021. In relation to the Gross Domestic Product (GDP), Venezuela's public debt amounted to around 306.95 percent of GDP. Eritrea was ranked fifth, with an estimated debt of 170 percent of the Gross Domestic Product.

The national debt of the United Kingdom is forecasted to grow from 87 percent in 2022 to 70 percent in 2027, in relation to the Gross Domestic Product. These figures include England, Wales, Scotland as well as Northern Ireland.

Greece had the highest national debt among EU countries as of the 4th quarter of 2020 in relation to the Gross Domestic Product. Germany ranked 13th in the EU, with its national debt amounting to 69 percent of GDP in the same time period.

Tuvalu was one of the 20 countries with the lowest national debt in 2021 in relation to the GDP, while Macao had an estimated level of national debt of zero percent, the lowest of any country. The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance.

Germany recorded a Current Account surplus of 5.70 percent of the country's Gross Domestic Product in 2024. This dataset provides - Germany Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.