German public debt falling faster than expected – Spiegel

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FILE PHOTO - The Frankfurt skyline with its financial district is photographed on early evening in Frankfurt, Germany, March 25, 2018. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) – Germany’s public debt is falling faster than expected thanks to high tax revenues and should drop below the European Union’s target threshold next year, a year earlier than previously expected, magazine Der Spiegel reported on Saturday.
Citing the government’s new stability program, due to be agreed by the cabinet next Wednesday, Spiegel said the debt ratio was now projected to fall to just over 58 percent of gross domestic product (GDP) in 2019 from 61 percent this year.

That would see the debt ratio drop below the EU Stability and Growth Pact threshold of 60 percent of GDP a year earlier than previously forecast.

Writing by Paul Carrel; Editing by Hugh Lawson

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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