German debt will come below 60% of GDP sooner than expected

German government debt is falling faster than expected. Under the ceiling of the European Union (EU) must be reached before the end of this year, said German finance minister, Olaf Scholz.

The figures released last week show that the fast-growing economy is producing a record surplus.

German government debt should fall below 60% of gross domestic product (GDP) by 2019, which was the original plan, Scholz said on a Sunday in Berlin during the Federal Government's Open Days.

Debt relief is aided by a robust economy that has increased by 0.5% in Q2. The surplus of the total government in the first half year reached a record amount of 48.1 billion euros.

The increasing surplus means that the lobby, as well as the other members of the government, are becoming more frequent, so that Germany invests more. Even the extremely cautious Scholz had to admit that the high surplus opened new possibilities.

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