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Germany’s public debt climbs to $3.1T on higher spending

Germany’s public debt rose by €151 billion ($176.1 billion) to €2.66 trillion ($3.1 trillion) at the end of last year, driven in part by higher defense spending and infrastructure investment, according to preliminary data released Thursday. The Federal Statistical Office, or Destatis, said total public sector debt -- covering the federal government, states, municipalities and social security funds -- increased 6% year-on-year. [...]