28,000 euros per capita – public debt higher than ever

Public debt rose to a new high at the end of last year. As the Federal Statistical Office announced on Wednesday based on preliminary results, the federal, state and local governments as well as social security were indebted at around 2.37 trillion euros at the end of 2022.

The debt was two percent higher than at the end of 2021 and reached a new high, according to the Wiesbaden statisticians. Per capita debt was recently 28,155 euros.

At the end of 2022, federal debt increased by 4.6 percent compared to the same point in the previous year. "This is mainly due to the continued increase in financing requirements as a result of the pandemic situation in recent years and the current energy crisis," according to the statisticians.

A large part of the increase in debt affected the so-called economic stabilization fund, which is intended to absorb the economic effects of the pandemic and, since 2022, also to cushion the consequences of the energy crisis. The 100 billion euro special fund for the Bundeswehr has not yet been used.

At the end of 2022, the federal states were five percent less indebted. "With the exception of Saxony-Anhalt, all states were able to reduce their debt in 2022 compared to the end of 2021," the office reported. Municipal debt increased by 4.4 percent at the end of 2022. At the end of 2022, social security had a debt of 36 million euros - eight million euros less than in the previous year.

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