65.7 billion euros in the red
Government deficit improves after the end of the Corona crisis
01/11/2023 11:36 am
Since the corona pandemic has gradually weakened, the German state has had to spend less money on business aid and other measures. The entire household benefits from this. Nevertheless, the financial situation is still far removed from the pre-crisis state.
In the first three quarters of 2022, the German state significantly reduced its financing deficit compared to the previous year. In 2021, the Corona crisis had still shaped the finances. Like the Federal Statistical Office (Destatis) reportedthere was a cash financing deficit of 65.7 billion euros in the first three quarters of 2022.
From January to September 2021, the financing deficit of the overall public budget was 150.2 billion euros, as the Federal Office further announced. In the same period of the pre-crisis year 2019, a financing surplus of 18.8 billion euros was realized.
In the first three quarters of 2022, total public budget expenditure rose by 1.5 percent year-on-year to EUR 1,326.9 billion, and revenue by 9.1 percent to EUR 1,261.2 billion. The information relates to provisional results of the core and extra budgets of the quarterly cash statistics. This also includes special assets.
“The only small increase in total public budget expenditure can be explained in particular by the fall in federal spending, which had previously risen to a very high level in connection with the corona pandemic,” the statisticians explained. Allocations, grants and debt service assistance from the federal government fell by 5.7 percent to 288.5 billion euros. In particular, the expiring Corona corporate aid made itself felt here. But other corona measures, such as the reimbursement of social security contributions for short-time work, also declined.