Finances - Local authority debt levels higher than they have been for a long time
The debt level of local authorities in Saxony-Anhalt has risen. At the end of September 2023, it totaled 3.049 billion euros, according to the State Statistical Office in Halle on Friday. This was an increase of 152 million euros compared to the end of September 2022. For the first time since 2017, the debt level was above three billion euros again.
According to the statistics authority, the proportion of debt to secure liquidity was around 46 percent. Loans to secure liquidity are taken out to ensure the short-term solvency of a local authority. The remaining 54 percent was used for investments. There are significant differences in the level and development of debt within the municipal family.
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In Saxony-Anhalt, several municipalities are constantly grappling with high debt levels. Due to these financial struggles, some smaller communes in the region have even considered merging to improve their financial situation.
Despite the overall increase in debt, some municipalities in Saxony-Anhalt have managed to maintain a lower debt level compared to others, demonstrating the varied financial situations within the region.
Source: www.stern.de
