Germany's government deficit falls in 2021

By Ovunc Kutlu

ANKARA (AA) – Germany's government deficit fell to €132.5 billion ($149 billion) in 2021, official data revealed on Friday.

This marked a €12.8 billion ($14.4 billion) decline from the previous year, the Federal Statistical Office (Destatis) said in a statement.

"When measured as a percentage of gross domestic product (GDP) at current prices, the deficit ratio was 3.7% in 2021," it said.

Germany's government revenue was up 8.9% to reach €1.7 trillion in 2021 compared to the previous year.

Government expenditure also rose, but at a lower rate with 7.4%, to reach approximately €1.84 trillion last year.

"The measures taken to contain the COVID pandemic made a major contribution to rising general government expenditure in 2021," the statement said.