November 26, 2018 / 6:28 PM / 20 days ago

German debt falls below 60 pct this year - FinMin

BERLIN, Nov 26 (Reuters) - German Finance Minister Olaf Scholz said on Monday total public sector debt fell below 60 percent of gross domestic product this year, bringing it below the European Union’s jointly agreed debt ceiling for the first time since 2002.

All member states of the single currency bloc have committed themselves to limit public debt to a maximum of 60 percent of economic output. But Germany, the EU’s largest economy, has violated this rule since 2003 every year, as have many other member states. (Reporting by Gernot Heller Writing by Michael Nienaber Editing by Mark Heinrich)

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