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Fe­deral bud­get and fis­cal po­li­cy key fi­gu­res, De­cem­ber 2008

1. Trends in the federal Budget

Trends in the federal Budget (in million Euros)
TrendEstimated 2008Jan. to
Dec. 2008
Jan. to
Dec. 2007
Tax revenue237,955239,231230,043
Financial deficit-12,149-11,792-14,690
Adjusted for
revenue from coin
Net borrowing /
current financial
market balance

2. Market resources

Federal market resources after absorption of special fund debts (in million Euros)
ResourceAs at October 31 st, 2008IncreaseDecreaseAs at November 30 th, 2008
Federal bonds593,4687,0000600,468
Index Linked Bonds22,0000022,000
Special federal bonds167,0004,0000171,000
Federal savings bonds9,485142599,568
Federal treasury notes115,00000115,000
Treasury discount paper38,4465,9375,88138,502
Treasury financing paper2,405831202,369
German government day bond2,4147541202,369
Loans against borrowers` note13,3150013,315
Treuhand medium-term notes205051153
Total outstanding debt963,738975,409
Federal market resources by remaining term (in million Euros)
Term lengthAs at October 31 st, 2008As at November 30 st, 2008
Short Term (up to 1 year)182,456183,266
Medium term (1 year to 4 years)309,718309,480
Long term (over 4 years)471,564482,664
Total outstanding debt963,738975,409

3. General government tax revenue

General government tax revenue (in million Euros)
Date Total tax receipts
Tax revenue Estimate November 2008514,731
As per December69,157
January to December515,498

4. Guaranteed debt

Guaranteed debt (in billion Euros)

Purpose of Guarantees

Budget framework 2008Allocated amount at December 31st, 2008Allocated amount at September 31st, 2007
Export credit guarantees117.0103.398.6
Untied loans, direct foreign investments, Loans of the EIB, KfW shareholding in EIF40.025.726.7
Bilateral financial cooperation projects2.31.21.1
Food stockpiling7.57.57.5
Domestic guarantees95.087.052.1
International financial institutions46.640.340.3
Treuhandanstalt-successor organisations1.31.01.2
Interest compensation guarantees4.04,0-

5. Key dates on the fiscal policy agenda

Agenda itemDate
Euro Group and ECOFIN in Brussels09/10 February 2009
Meeting of the G7 Finance Ministers in Rome13/14 February 2009
Euro Group and ECOFIN in Brussels09/10 March 2009
Meeting of G20 Finance Ministers in London14 March 2009
European Council in Brussels19/20 March 2009

German Version:

Exact statistics and explanations of 1 to 5 above are to be found in the Monthly Report of the Federal Ministery of Finance or in the

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