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Speyer in a mess: budget deficit of over 10 million euros!
Speyer is struggling with a budget deficit of over 10 million euros. The financial situation is becoming increasingly difficult.
Speyer in a mess: budget deficit of over 10 million euros!
The city of Speyer is struggling with significant financial challenges, which have become dramatically worse since 2023. How Rhine Palatinate reported, the city's budget for 2025 assumes a deficit of 6.4 million euros. The situation becomes even more serious in the annual financial statements, where the deficit could probably rise to over 10 million euros.
These serious figures are primarily due to a dramatic deterioration in financial conditions. Mayor Stefanie Seiler (SPD) and city treasurer Tobias Schmitt make it clear that the city is in the red zone and the situation is likely to worsen further. Planned figures for 2026 show a worrying development that could put even further strain on the city's finances.
Annual financial statements for 2023 and causes of the deficit
Another reason for this negative development is the reduced grants from the state, which total around 6 million euros. Trade tax revenue has also fallen significantly, by around 4 million euros. In addition, there are increased personnel and pension expenses of around 8 million euros, as well as social security expenses of around 3 million euros, especially in the area of basic security and integration assistance.
Social spending and municipal challenges
A particularly worrying development can be seen in social spending. These increased per resident from 987.97 euros in 2017 to 1,168.75 euros in 2023. The city's equity capital has also decreased from around 94.6 million euros in 2022 to around 87.2 million euros.
The city is now trying everything to overcome the liquidity bottleneck within the framework of the Municipal Debt Relief Fund (KEF), but this process is being made more difficult by overall economic developments and structural underfinancing. The rise in prices and interest rates, combined with the aftermath of the Corona crisis and the Ukraine war, is creating an even more tense situation, which will potentially impact municipal spending.
The federal government has issued savings targets in order to exploit energy saving potential in the building sector, and concerns about the energy supply in the coming winter also remain present. The gas storage level in Germany is currently over 90 percent, which gives hope for a reliable energy supply, but the municipal challenges remain enormous.
Speyer is therefore facing a financial test, the outcome of which could be decisive for the coming years. We can only hope that those responsible have a good hand in dealing with this situation, because the city and its citizens are facing a difficult time.