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Statistics: State financial deficit has fallen below 100 billion euros

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statistics
State financial deficit fell below 100 billion euros

Last year the state spent 1,951.9 billion euros. photo

© Patrick Pleul/dpa

Once again, the deficit in the overall public budget is primarily borne by the federal government. But compared to previous years, there are new developments.

The deficit of the Last year, public finances fell below the 100 billion euro mark for the first time since 2019. As the Federal Statistical Office announced, the federal, state, municipal and social insurance budgets closed the year 2023 with a financing deficit of 91.9 billion euros. This meant that the deficit was 35.4 billion euros below the value for 2022.

The record deficit in the general public budget in 2020 was 189.2 billion euros. At that time, expenses related to the consequences of the corona pandemic placed a heavy burden on households.

According to the Federal Office, last year there were revenues of 1,860.0 billion euros compared to expenses of 1,951.9 billion euros. Compared to the previous year, expenses rose by around 4.1 percent and income by 6.4 percent.

As in previous years, the deficit is largely borne by the federal government, the statisticians said. For the first time in several years, the municipalities also recorded a deficit (6.8 billion euros), while the federal states’ income and expenditure were almost balanced and the social insurance companies had a relatively small surplus (2.7 billion euros).