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National deficit after three quarters at 160.4 billion euros

FRANKFURT (Dow Jones) – The Corona crisis left the German state with a high deficit in the first three quarters of 2021. As reported by the Federal Statistical Office (Destatis), there was a cash funding deficit of 160.4 billion euros. In the first three quarters of 2020, the funding deficit of the general public budget amounted to 157.1 billion euros, while in the same period of 2019 a funding surplus of 18.8 billion euros was achieved.

The total public budget increased in the first three quarters of 2021 compared to the same period in the previous year by 6.1 percent to 1,306.6 billion euros, and income by 6.7 percent to 1,146.2 billion euros. “The increased expenditure in the general public budget can mainly be explained by the higher allocations and grants as a result of the corona pandemic,” declared Destatis.

The federal government and its extra budgets alone paid around 56.2 billion euros (plus 22.5 percent) more allocations, grants and debt service aid in the first three quarters of 2021 than in the same period of the previous year. This includes emergency aid to companies as well as payments to support hospitals.

Reference-www.finanzen.at

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