Who generates the debt |
EUR mil. | Annual change |
|---|---|---|
| Government | 26 386 | 20,9% |
| Other Subjects of Public sector | 1 104 | 21,1% |
| Municipalities | n.a. | 37,5% |
| Self-governed Regions | n.a. | 7,2% |
| National property fund | n.a. | -0,9% |
| Contributory Organizations of Public Sector | n.a. | -28,8% |
| Total public debt (Maastricht debt) | 27 490 | 20,9% |
Most of the existing debt can be assigned to the central government, which is responsible for more than 95 percent of the state debt. Another significant amount of the debt ha been contributed by the local governments. They have, however, limited opportunity to go into debt only up to 60 percent of their current revenues by law under the threat of receivership by the central government. Local governments do produce debt, although the debt ceiling is quite effective way of taking the expenses under control. The central government has produced the debt 40 times bigger than the local governments.