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27 January 2017

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

Data from the January 2017 monthly report

1. Federal budget trends

Federal budget trends (figures in €m)
Estimated 20161

January to December 20162

January to December 2015

Expenditure3

316,900 306,625 299,285

Revenue3

310,515 316,829 311,055

Tax revenue

288,083 288,991 281 706

Fiscal balance

-6,385 10,2042 11,792

Financing/use of surplus:

     

Cash resources

0 0 0

Revenue from coin

285 300 353

Transfer to reserve funds

6,100 -4 -12,145

Net borrowing/
current financial market balance5

0 0 0

2. Credit market funds

Debt level:
30 November 2016

Borrowing

(increase)

Debt repayment

(decrease)

Debt level:
31 December 2016
Change in debt level (balance)

(in €m)

Budget borrowing 1,101,189 5,111 -17,149 1,089,151 -12,038

broken down by purpose

Federal budget

1,059,516 3,015 -14,381 1,048,151 -11,366

Financial Market Stabilisation Fund

22,935 365 -1,069 22,231 -704
Investment and Redemption Fund 18,738 1,732 -1,700 18,770 32

broken down by dept type

Federal securities 1,086,669 5,274 -17,118 1,074,825 -11,845
Federal bonds 670,558 -718 - 669,840 -718
30-year federal government bonds 193,783 9 - 193,792 9

10-year federal government bonds

476,775 -727 - 476,048 -727
Inflation-linked federal securities 66,428 36 - 66,428 36
30-year,inflation-linked,federal,government,bonds 4,776 -7 - 4,769 -7
10-year inflation-linked federal government bonds 47,092 18 - 47,110 18

Inflation-linked federal government debentures

14,560 25 - 14,585 25

Federal notes

218,628 2,922 - 221,551 2,922
Federal Treasury notes 106,694 3,033 -14,000 95,727 -10,967
Treasury discount papers issued by the Federation 22,099 0 -3,008 19,091 -3,008
Other federal securities 2,262 0 -110 2,152 -110
Securitised loans 9,816 - -31 9,785 -31
Other loans and ordinary debts 4,704 -162 - 4,542 -162

broken down by maturity

Short term (up to one year) 156,893 152,081 -5,812
Medium term (one to four years) 356,817 345,989 -10,827
Long term (over four years) 587,479 591,081 3,602

for information purposes only

Liabilities resulting from inflation adjustments of inflation-linked securities 3,416 3,602 187
Reserve for inflation adjustments of the principal of the inflation-linked securities according to Schlussfinanzierungsgesetz 2,317 2,317 -

3. General government tax revenue

Total tax revenue (provisional, in €m)

Period

Total tax revenue

Projection for 20161

642,386

December

87,377

January to December

648,310

4. Guarantees

Guarantees (in €bn)

Purpose of guarantees

Authorisided ammount

2015

Amount allocated
as of
31 December 2016

Amount allocated

as of
31 December 2015

Export credit guarantees

160.0 128.6 132.8

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

65.0 44.9 45.1

Financial cooperation projects

25.7 17.2 13.3

Food stockpiling

0.7 0.0 0.0

Domestic guarantees

158.0 102.6 112.2

International financial institutions

66.0 60.1 56.8

Treuhandanstalt successor organisations

1.0 1.0 1.0

Interest compensation guarantees

10.0 10.0 8.0

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

22.4 22.4 22.4

5. Key dates on the fiscal policy agenda

Event

Date

Eurogroup and ECOFIN council meetings in Brussels

20-21 February 2017
Eurpean council in Brussels 9-10 March 2017
Meeting of G20 finance ministers and central bank governors in Baden Baden 17-18 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.