Status: 02/16/2021 3:06 p.m.
Hamburg has come through the Corona crisis better than expected financially. According to the preliminary annual accounts, the city has collected more taxes in 2020 than planned in May last year.
Finance Senator Andreas Dressel (SPD) had expected around 11 billion euros in taxes last year. According to the annual financial statements that have now been presented, there are around 1.2 billion more. Above all, wage and sales tax have not collapsed as much as expected.
AUDIO: Hamburg will collect more taxes in 2020 than planned (1 min)
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Numbers better than last tax estimate
The last tax estimate in November had already indicated that the Hanseatic city would get through the crisis better than feared. The numbers are now even higher than those from autumn.
Still over 500 million euros less than in 2019
However, overall income is well below the level before the corona pandemic. Hamburg will have to make do with more than half a billion euros less in 2020 than in 2019. While the city was able to pay off debts back then, it is now incurring new debts.
Dressel: “Less debt than feared”
The bottom line is that there are fewer debts than feared, according to Dressel. In his opinion, this will help for the future, as less will have to be planned for interest and repayment in the coming years.
Further information
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