Navigation and service

21 April 2017

Overview of fed­er­al bud­getary and fi­nan­cial da­ta up to and in­clud­ing March 2017

Data from the April 2017 monthly report

1. Federal budget trends

Federal budget trends (figures in €m)
Estimated 2017

January March 20171

January to March 20161

Expenditure2

329,100 84,407 83,507

Revenue2

322,051 81,565 74,622

Tax revenue

301,029 76,936 65,869

Fiscal balance

-7,049 -2,840 -8,883

Financing/use of surplus:

     

Cash resources

0 42,824 25,195

Seigniorage

285 -144 -115

Transfer to reserve funds

6,734 - -

Net borrowing/
current financial market balance3

0 -39,840 -21,607

2. Credit market funds

Debt level:
28 February 2017

Borrowing

(increase)

Debt repayment

(decrease)

Debt level:
31 March 2017
Change in debt level (balance)

(in €m)

Budget borrowing 1,078,264 19,511 -16,042 1,081,732 3,468

broken down by purpose

Federal budget

1,037,267 18,297 -14,829 1,040,735 3468

Financial Market Stabilisation Fund

22,228 933 -933 22 228 -
Investment and Redemption Fund 18,770 281 -281 18 770 0

broken down by dept type

Federal securities 1,063,938 19,569 -16,042 1,067,465 3,527
Federal bonds 667,723 5,920 - 673,644 5,920
30-year federal government bonds 195,176 1,079 - 196,255 1,079

10-year federal government bonds

472,547 4,841 - 477,388 4,841
Inflation-linked federal securities 67,870 503 - 68,373 503
30-year,inflation-linked,federal,government,bonds 5,280 15 - 5,295 15
10-year inflation-linked federal government bonds 48,054 489 - 48,543 489

Inflation-linked federal government debentures

14,535 0 - 14,535 0

Federal notes

209,757 3,614 0 213,371 3,614
Federal Treasury notes 101,453 7,695 -14,000 95,148 -6,305
Treasury discount papers issued by the Federation 15,080 1,837 -2,006 14,910 -169
Other federal securities 2,055 0 -36 2,018 -36
Securitised loans 9,785 - - 9,785 -
Other loans and ordinary debts 4,542 -59 - 4,542 -59

broken down by maturity

Short term (up to one year) 152,796 151,346 -1,449
Medium term (one to four years) 339,096 333,283 -5,813
Long term (over four years) 586,372 597,103 10,730

for information purposes only

Liabilities resulting from inflation adjustments of inflation-linked securities 3,940 3,362 -578
Reserve for inflation adjustments of the principal of the inflation-linked securities according to Schlussfinanzierungsgesetz 2,317 2,317 0

3. General government tax revenue

Total tax revenue (provisional, in €m)

Period

Total tax revenue

Projection for 20171

667,418

March

66,757

January to March

165,352

4. Guarantees

Guarantees (in €bn)

Purpose of guarantees

Authorisided ammount

Amount allocated
as of
31 March 2017

Amount allocated

as of
31 March 2016

Export credit guarantees

160.0 124.8 132.4

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

65.0 44.5 43.8

Financial cooperation projects

28.5 17.5 13.3

Food stockpiling

0.7 0.0 0.0

Domestic guarantees

158.0 102.6 103.2

International financial institutions

66.0 60.1 56.8

Treuhandanstalt successor organisations

1.0 1.0 1.0

Interest compensation guarantees

15.0 15.0 8.0

5. Key dates on the fiscal policy agenda

Event

Date

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
G20 specialist conference “G20-Africa Partnership. Investing in a Common Future” in Berlin 12-13 June 2017

Eurogroup and ECOFIN council meetings in Luxembourg

15-16 June 2017
Informal meeting of the G20 finance ministers and central bank governors on the sidelines of the G20 summit in Hamburg 6-7 July 2017
G20 summit in Hamburg 7-8 July 2017

Eurogroup and ECOFIN council meetings in Brussels

10-11 July 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.