Lowest debt level for 30 years

The granting of stabilization aid by the Free State of Bavaria and Hof's own efforts have made it possible to significantly reduce the city's debt level in 2023.

While the debt level, including the building yard and crematorium, stood at € 84.47 million at the end of 2022, it was reduced to € 72.74 million in 2023.

"This is the lowest level since 1993," emphasizes city treasurer Peter Fischer. On 31.12.1993, the City of Hof's debt was €79.65 million, compared to €65.48 million on 31.12.1992.

Since 2011, the city of Hof has received stabilization aid from the Free State of Bavaria, the last time for 2022. However, the Free State of Bavaria rejected Hof's application for 2023. "Nevertheless, it was possible to significantly reduce the debt in 2023, which was almost €12 million less," explains Mayor Eva Döhla. "I will continue to focus on the goal of reducing the City of Hof's debt," continued Döhla.

The city of Hof had its highest level of debt on December 31, 2012 at €127.5 million. Since then, it has been reduced in larger or smaller steps every year. Nevertheless, the city of Hof's debt level is still above average in a Bavaria-wide comparison with independent cities of the same size.