German Federal Statistics Office: Germany reduces debt to lowest level since 2011

The latest data published by the German Federal Statistics Office on Wednesday showed that overall public debt is reduced to the lowest level in seven years.

Key Details (via Reuters):

Overall public debt cut by 2.3 percent to 1.93 trillion euros ($2.27 trillion) in the first half of the year, pushing it to the lowest level since 2011.

The debt of all state levels, including the federal government, the 16 federal states, municipalities and social security systems, shrank by 46.5 bln euros from January through June year-on-year.

Chancellor Angela Merkel’s federal government reduced debt by 1.7 percent to 1.22 trillion euros and the 16 federal states lowered debt by 3.6 percent to 574.5 billion euros. Debt of the social security systems fell by 7.1 percent to EUR 403 million.