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Germany: The state has more debt than ever before

2022-07-28T11:50:14.869Z

Federal, state, local and social security debts have accumulated in record amounts in the past year. The main reason is quickly identified.



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Piggy banks in federal colors

Photo: DPA

At the end of last year, public sector debt to banks and private companies reached a high of more than 2.3 trillion euros.

This is reported by the Federal Statistical Office.

According to this, the federal, state, municipal and social security funds were indebted to the so-called non-public sector at the end of 2021 with 2321.1 billion euros.

The non-public sector includes banks and private companies in Germany and abroad.

The most important reason is the management of the corona pandemic, especially at the federal level, but also in some countries.

It is the highest level ever measured in the debt statistics. Within a year, public debt grew by 6.8 percent or 148.3 billion euros.

Increase of 10 percent compared to the previous year

The final numbers are still higher than the preliminary values ​​that were announced in March.

According to the Federal Office, the sum corresponds to a per capita debt of 27,922 euros.

In March, 27,906 euros were calculated.

more on the subject

  • Is a new debt crisis looming now?: These are Europe's wobbly candidatesBy Tim Bartz and David Böcking

  • First increase in eleven years: What rising interest rates mean for GermanyBy Tim Bartz, Frankfurt am Main

At the end of 2021, the federal government was in debt with 1548.5 billion euros, which was 10.3 percent more than a year earlier, as the authority announced.

The debts of the countries rose by 0.4 percent to 638.5 billion euros.

Saarland had the highest per capita debt among the non-city states (14,811 euros).

The municipalities and associations of municipalities were in debt with 134.2 billion euros, according to the Federal Office this is an increase of 0.6 percent.

At the end of 2021, social security owed 45 million euros, a million more than a year earlier.

mamk/dpa

Source: spiegel

All business articles on 2022-07-28

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