The financial assets of the German state rose to a record high in the second year Corona 2021. The stock of cash, deposits, securities, loans and other credits amounted to 1.1 trillion euros at the end of the year, according to the Federal Statistical Office . This is 6.1 percent or 63.2 billion euros more than in the first pandemic year 2020. At that time, financial assets increased to over 1.0 trillion euros for the first time thanks to new loans for aid to the coronavirus.
However, this is offset by a public sector debt of around € 2.3 trillion at the end of 2021. This in turn corresponds to a per capita debt of € 27,922 and therefore higher than at the end of 2020 (€ 26,140).
Bund: increase for new loans
Financial assets of the federal government increased 8.2% to 428.7 billion euros in 2021 compared to the previous year. “The reason for this development was the accumulation of cash to ensure the federal government’s ability to act in implementing aid packages and programs to address the economic consequences of the corona pandemic,” he said. As in the previous year, the build-up was largely the result of an increase in debt.
Countries have developed differently
The financial assets of the federal Länder also recorded almost the same increase compared to 2020: they increased by 8.3% to 294.3 billion euros. Countries have experienced very different developments. The highest percentage increase was in Lower Saxony with an increase of 38 percent, which according to the information is due in particular to the strong price increase of the Volkswagen stock. Conversely, the largest decline was in Bremen (minus 31%). This is mainly due to the reduction in cash collateral to be deposited for derivative transactions.
Municipalities and municipal associations recorded an increase in financial assets of 3.9 percent to 223.5 billion euros. The municipalities of the Saarland showed the largest percentage increase with 11.2%.
(With material from dpa and Reuters)
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