August 28, 2019 / 12:03 PM / 3 months ago

Hitting EU's debt target will be harder this year - German finance ministry spokesman

BERLIN, Aug 28 (Reuters) - Germany has not abandoned its goal of keeping public debt below the European Union’s ceiling of 60% of economic output, but recent economic developments mean that this target will be harder to hit, a finance ministry spokesman said on Wednesday.

“We are not giving this goal up, but given the economic developments we are seeing this year it will be harder to reach this goal,” the spokesman said.

On Tuesday, Germany’s statistics office revised gross domestic product data for the past 20 years which also affected its debt to GDP ratio. (Reporting by Thomas Escritt Editing by Madeline Chambers)

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