BERLIN - Germany's finance ministry says it expects the country's public debt to fall to 79.5 per cent of its annual economic output this year amid strong tax revenues and tight spending controls.
Public debt stood at 81 per cent in 2012.
The ministry said in a statement Wednesday that this year's overall deficit is expected to be around 0.2 per cent of GDP, down from an estimate of 0.5 per cent in April. The figures are well below the European Union-mandated maximum of 3 per cent.
Europe's biggest economy has fared well in recent years, maintaining low unemployment and modest growth in contrast to many of Germany's neighbours.
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