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22 December 2016

Overview of fed­er­al bud­getary and fi­nan­cial da­ta up to and in­clud­ing Novem­ber 2016

Data from the December 2016 monthly report

1. Federal budget trends

Federal budget trends (figures in €m)
Estimated 2016

January to November 2016

January to November 2015

Expenditure

316,900282,028275,901

Revenue

310,515276,645267,237

Tax revenue

288,083250,602240,363

Fiscal balance

-6,385-5,382-8,617

Financing/use of surplus:

   

Cash resources

026,96219,916

Revenue from coin

285179200

Transfer to reserve funds

6,100-689-

Net borrowing/
current financial market balance1

0-21,070-11,500
1 (-) debt repayment; (+) borrowing

2. Credit market funds

Debt level:
31 October 2016

Borrowing

(increase)

Debt repayment

(decrease)

Debt level:

30 November 2016

Change in debt level (balance)

(in €m)

Budget borrowing1,095,1189,130-3,0591,095,1186,071

broken down by purpose

Federal budget

1,053,4419,134-3,0591,053,4416,075

Financial Market Stabilisation Fund

22,935--22,935-
Investment and Redemption Fund18,742-4-18,738-4

broken down by dept type

Federal securities1,080,5989,130-3,0591,080,5956,071
Federal bonds666,9123,646-670,5583,646
30-year federal government bonds194,103-320-193,783-320

10-year federal government bonds

472,8093,966-476,7753,966
Inflation-linked federal securities66,019409-66,428406
30-year inflation-linked federal government bonds4,71957-4,77657
10-year inflation-linked federal government bonds46,740352-47,092352

Inflation-linked federal government debentures

14,5600-14,5600

Federal notes

217,889740-218,628740
Federal Treasury notes102,3584,335-106,6944,335
Treasury discount papers issued by the Federation25,108--3,00822,099-3,008
Other federal securities2,3130-512,262-51
Securitised loans9,816--9,816-
Other loans and ordinary debts4,7040-4,7040

broken down by maturity

Short term (up to one year)160,211156,893-3,318
Medium term (one to four years)353,929356,8172,888
Long term (over four years) 580,978587,4796,501

for information purposes only

Liabilities resulting from inflation adjustments of inflation-linked securities3,1443,416272
Reserve for inflation adjustments of the principal of the inflation-linked securities according to Schlussfinanzierungsgesetz2,3172,3170

3. General government tax revenue

Total tax revenue (provisional, in €m)

Period

Total tax revenue

Projection for 20161

642,386

November

44,033

January to November

560,933
1 Source: Working Party on Tax Estimates, November 2016

4. Guarantees

Guarantees (in €bn)

Purpose of guarantees

Authorisided ammount

2015

Amount allocated
as of
30 September 2016

Amount allocated

as of
31 September 2015

Export credit guarantees

160.0128.5132.2

Loans to foreign debtors, direct foreign investment, EIB loans, KfW shareholding in EIF

65.046.744.8

Financial cooperation projects

25.717.212.6

Food stockpiling

0.70.00.0

Domestic guarantees

158.0102.3105.0

International financial institutions

66.060.056.8

Treuhandanstalt successor organisations

1.01.01.0

Interest compensation guarantees

10.010.08.0

Guarantees for loans to Greece under the Monetary Union Financial Stability Act of 7 May 2010

22.422.422.4

5. Key dates on the fiscal policy agenda

Event

Date

Eurogroup and ECOFIN council meetings in Brussels

23-24 January 2017

Eurogroup and ECOFIN council meetings in Brussels

20-21 February 2017
Eurpean council in Brussels9-10 March 2017
Meeting of G20 finance ministers and central bank governors in Baden Baden17-18 March 2017

Eurogroup and ECOFIN council meetings in Brussels

20-21 March 2017

Eurogroup and informal ECOFIN council meetings in Malta

7-8 April 2017

Spring meetings of the IMF and World Bank in Washington, D.C.

20-21 April 2017

Meeting of the G20 finance ministers and central bank governors in Washington, D.C.

21 to 23 April 2017

Eurogroup and ECOFIN council meetings in Brussels

22-23 May 2017

Exact statistics and explanations for 1 to 5 above can be found in the German version of the Federal Ministry of Finance’s monthly report.

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