Berlin, Sep 29 (TIWN) Germany's public debt increased by 25 billion euros ($24 billion) in the second quarter (Q2) of 2022 to 2.34 trillion euros, the Federal Statistical Office (Destatis) has said.

While government debt fell slightly at the start of the year, Europe's largest economy has seen a "continued increase in the financing requirements of the federal government and its special funds as a result of the ongoing pandemic situation," Destatis explained.  Germany is aiming to return to a balanced budget in 2023, and therefore will apply the "debt brake" which prevents new borrowing for the first time since 2020.  Despite financing extensive inflation relief packages, Federal Minister of Finance Christian Lindner wants to stick to the reintroduction of the debt brake next year. "Fighting inflation is different from fighting a COVID-19 pandemic," he told public broadcaster ARD earlier this month.