23.4 C
New York
Sunday, August 14, 2022

Public debt will peak at the end of 2021

- Advertisement -
- Advertisement -

Status: 07/28/2022 10:18 a.m.

Public debt reached more than 2.3 trillion euros at the end of 2021 – the highest level ever measured in debt statistics. According to the Federal Statistical Office, the main reason is the corona pandemic.

At the end of last year, public sector debt to banks and private companies peaked at over 2.3 trillion euros. At the end of 2021, federal, state, local and social security debts in the so-called non-public sector amounted to 2,321.1 billion euros, as reported by the Federal Statistical Office.

“Public debt at the end of 2021 increased by 6.8% or 148.3 billion euros compared to the end of 2020 to reach the highest level of debt ever measured in debt statistics,” the statisticians said. from Wiesbaden. The reason is particularly at the federal level, but also in certain countries, to deal with the corona pandemic.

Federal government: 10.3% more debt than at the end of 2020

According to this, the federal government was in debt at the end of 2021 with 1,548.5 billion euros, or 10.3% more than a year earlier. The debts of the Länder increased by 0.4% to 638.5 billion euros.

The overall public budget includes the federal government, states, municipalities and associations of municipalities, and social insurance, including all supplementary budgets. Banks and private companies in Germany and abroad are included in the non-public sector.

Debt per capita of 27,922 euros

The final figures are still higher than the provisional values ​​announced in March. The sum now corresponds to a per capita debt of 27,922 euros, said the Federal Office. In March, 27,906 euros were calculated.

Among the federal states, the highest debt per capita was in the city-states, with Bremen at 53,834 euros, Hamburg at 19,106 euros and Berlin at 16,897 euros. Among the non-urban states, debt per capita was highest in Saarland at 14,811 euros, followed by Schleswig-Holstein at 11,391 euros.

Municipalities and associations of municipalities were indebted by 134.2 billion euros, according to the Federal Office, this is an increase of 0.6%. At the end of 2021, Social Security owed 45 million euros, one million more than a year earlier.

Source www.tagesschau.de

- Advertisement -

New Articles