Federal debt reimbursement account: greater than 100,000 euros deposited in 2023 | EUROtoday

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Ministry of Finance
Citizens donated greater than 100,000 euros to the federal authorities in 2023 to repay money owed

The taxpayers' association's debt clock does not move backwards due to the debt settlement account

Debt clock of the taxpayers' affiliation in August 2023. The largest share of presidency liabilities is attributable to the federal authorities, adopted by the states.

© Jörg Carstensen / DPA

With the debt reimbursement account, everybody has the chance to cut back the federal authorities's liabilities. As ordinary, individuals in Germany made little use of it final 12 months.

The federal authorities is at the moment in debt with round 1.7 trillion euros – each citizen can assist cut back the federal authorities's mountain of debt. The federal authorities's debt reimbursement account has existed since 2006. If you need, you possibly can switch any quantity there, which will likely be used to repay the liabilities.

Last 12 months, the Federal Ministry of Finance recorded 701 deposits into this account, in response to a spokeswoman for the home stern-Inquiry introduced on Tuesday. The complete of all deposits in 2023 was 106,683.65 euros, round 46,000 euros greater than in 2022.

Around 1.4 million euros have thus far ended up within the debt reimbursement account

According to the data, one particular person alone transferred 25,000 euros to the federal authorities – the biggest single quantity of the previous 12 months. The lowest quantity acquired was one cent. This additionally flowed into the federal treasury – or because the ministry says: “The funds received in the debt repayment account are collected in the federal budget in Section 32 – Federal Debt – at the budget office in Chapter 3201 Borrowing, Title 32511 'Income from loans from the credit market' and are to be used for the purpose of repaying debts in accordance with budget note No. 2.”

The Ministry of Finance can after all say little in regards to the motivation of residents to voluntarily switch cash to the federal authorities – however it will possibly say little in regards to the complete quantity that has ended up there because the account was arrange 18 years in the past: 1,390,046.10 euros. If issues continued at this price, the federal authorities could be debt-free in round 22 million years.

It is unlikely that considerably more cash will enter the account sooner or later – neither is it the express aim of the federal authorities. The authorities defined in 2019 that they don’t count on such contributions “and do not strive to encourage the population to make such payments”: “The state just isn’t depending on donations to finance the federal price range, and it mustn’t create this impression by actively selling Arrange donations.”

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