The corona crisis has caused German national debt to skyrocket. The highest absolute growth occurred at the federal state level in North Rhine-Westphalia.
Dhe public debt in Germany has risen to a record level due to the enormous corona costs. At the end of September, the federal, state, municipal and social security institutions, including all extra budgets, were in the chalk with 2195.1 billion euros, as the Federal Statistical Office announced on Tuesday. That is 15.6 percent or 296.4 billion euros more than at the end of 2019.
“The increase is essentially due to the raising of financial resources for measures to deal with the Corona crisis,” explained the statisticians. Since the end of 2012, the liabilities had decreased every year before the first increase was recorded this spring due to Corona.
With the exception of social security, all levels were more heavily indebted at the end of September than at the end of 2019. The federal government’s debt rose the most during this period: it rose by 20.3 percent or 241.5 billion euros to 1,430.1 billion euros. “The securities debt rose particularly strongly, namely by 207.4 billion euros,” it said.
The federal states were in debt with 631.1 billion euros, which corresponds to an increase of 9.1 percent or 52.4 billion euros. “Debt has risen in all countries,” according to the statistical office. In percentage terms, it increased the most in Saxony, where the debt level increased from a low level to 2.7 times, followed by Bavaria (+26.5 percent) and Bremen (+20.8).
The states with the highest absolute growth were North Rhine-Westphalia (+16.4 billion euros), Bremen (+6.3 billion euros) and Lower Saxony (+5.0 billion euros).