German government debt level increased
The German government's mountain of debt grew in the first nine months of the year, partly due to expensive energy subsidies. According to the Federal Statistical Office on Thursday, the federal government, federal states, municipalities and municipal associations as well as social security including all extra budgets had a combined debt of 2454.0 billion euros at the end of September.
This is 3.6 percent or 85.8 billion euros more than at the end of 2022. This balance sheet includes liabilities to the non-public sector, which includes credit institutions and private companies in Germany and abroad.
The debts of all public transport companies in local public transport were newly included. "The background to this is that public transport companies receive allocations and subsidies from the federal and state governments to finance the Deutschland-Ticket, which was introduced on May 1, 2023," explained the statisticians. As a result, they are no longer primarily financed by their sales revenue. Without the public transport companies, the level of debt would have been 9.3 billion euros lower.
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The current debt level of the German government could potentially exceed its budget in the upcoming months, given its escalating debt. The increasing debt level, driven in part by significant energy subsidies, reached 2454.0 billion euros by September's end.
Source: www.ntv.de
