Status: 03.09.2024 18:41
The Hanseatic City of Hamburg closed last year with the largest annual surplus in its history. Overall, an “adjusted annual result” of almost 3.3 billion euros was generated, said Finance Senator Andreas Dressel (SPD) at the presentation of the annual report.
“With record results in investments, repayments and adjusted annual results, Hamburg can draw a positive conclusion for the 2023 budget and financial year despite difficult conditions,” said Dressel.
Higher tax revenues and Hapag-Lloyd dividend
The reason for the windfall was two factors: firstly, dividend payments of around 1.5 billion euros from the shipping company Hapag-Lloyd, in which the city has a stake, and secondly, higher tax revenues than expected. Almost 2.5 billion euros of this surplus could have been placed in the general reserve.
More invested than ever before
Records were also set in terms of investments and loan repayments, said Dressel. For example, the city of Hamburg, excluding its municipal holdings, invested almost 1.9 billion euros – after just under 1.3 billion euros in 2022. Including the group’s subsidiaries, around 5.3 billion euros were invested, for example in school and housing construction or transport, energy and social infrastructure.
Debts reduced
New loans totaling 291 million euros were taken out. Almost 2.7 billion euros would have been permitted. At the same time, Corona loans totaling around 483 million euros were fully repaid early last year. In total, debts totaling almost 2.5 billion euros were repaid – which reduced the deficit in core administration from around 25.12 billion euros in 2022 to 22.67 billion euros last year.
AUDIO: Record surplus in Hamburg’s budget (1 min)
Higher costs for staff and refugees
In the coming years, however, Hamburg must expect rising expenditure on personnel and higher costs for the accommodation of refugees. The Senate’s draft budget for the next two years will be discussed for the first time in the Citizens’ Assembly on Wednesday.
More information
The red-green Senate is planning almost 44 billion euros for 2025/2026. Mayor Tschentscher and Finance Senator Dressel presented the draft budget. (June 19, 2024) more
Contrary to the national trend, Hamburg expects more tax revenue in the coming years than was estimated in the autumn. This was stated by Finance Senator Dressel. (May 28, 2024) more
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NDR 90.3 | NDR 90.3 Current | 03.09.2024 | 3:00 p.m.
